A bit of a tangent. For those of you that are depressed because you feel China is going to take the US over by pure economic force, have a look at the map from The Economist below.
The American economy is still the most robust and energetic economy in the world. If we support and create entrepreneurs, we will stay there. China eventually may have a bigger economy simply by virtue of more population. The critical thing is that America needs to be the place where innovation happens. Generation Y can do that with the correct support.
In summary, we have to create smaller more efficient government. Government has to do more with less. We need to invest in smart infrastructure and rethink how we retool our existing metropolitan areas. We need to invest in better, less government controlled, educational systems for our kids, and support entrepreneurship to grow.
If we don’t, in no time we will look like the quasi-socialist societies of Western Europe. Stagnant, with only memories of what it once was, and visions of what it could be.
Saturday, January 22, 2011
Map o' the Day: Matching U.S. States to Countries Based on GDP
Jeff Carter, writing at Points and Figures.