ITIF Disputes Boston Consulting Group (BCG) Report that U.S. Set for Industrial Revival

September 21, 2012

BCG is correct that the United States can become an industrial powerhouse again, but they are wrong that market forces acting alone will produce such a result. Rather, as ITIF explains in Innovation Economics: The Race for Global Advantage and reports like A National Traded Sector Competitiveness Strategy,it will take a coordinated set of policies around the “4Ts” of Technology, Tax, Trade, and Talent to power sustained American industrial renewal. U.S. manufacturing simply won’t be globally competitive if we continue to impose the world’s third-highest corporate tax on manufacturers, permit continued foreign mercantilism through currency and standards manipulation or IP theft, and fail to address skills, education, and immigration challenges.