There is plenty of room for blame if that is the beginning of adjudicating the problem. We have educated the world with one of our greatest and most precious national treasures - our universities. We have transferred technology around the world, transferred capital and ultimately transferred trained managers to combine these critical innovation ingredients into economies that are more competitive than we are in supplying ourselves with living staples.
In the last ten years, our universities have transferred American knowledge to more than 25,000 Chinese citizens who are now making China the fastest growing economy in the world, just like America in 1970, 1980, 1990 but not in 2005. I understand that less than 500 American citizens speak Chinese, but more than 50,000 Chinese citizens speak American.
We remain proud of what we make, we just don’t make much anymore. It is not contrary to global progress, nor is it a fundamental confrontation with Adam Smith’s teachings, to want to be competitive again. Innovation got us here and innovation can help us rise up like a phoenix from our innovative ashes and fly off into a better economy.
We need to go to the moon again and return if only for the benefit of our children.
It needs to start with a different CEO.
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