Notable Accomplishments
During its years in operation, the Competitiveness Policy Council prepared and issued four Reports to the President and Congress. They were:
- Building a Competitive America (1992)
- A Competitiveness Strategy for America (1993)
- Promoting Long-Term Prosperity (1994)
- Saving More and Investing Better (1995)
The Council adopted a broad approach to American competitiveness defining it as the ability of the United States to produce goods and services that meet the test of international markets while its citizens earn a standard of living that is both rising and sustainable over the long run. This definition differed from others in that era which emphasized the trade balance rather than the overall impact of governmental policies on national economic prosperity. The Council's first report, "Building a Competitive America" (March 1992) explained that "three elements permeate our society and most directly hurt our competitive position: short-termism, perverse incentives, and absence of global thinking."
To help analyze the problems of faltering U.S. competitiveness, the Council in its first year, established eight Subcouncils to study and recommend solutions for the most critical problems hindering U.S. competitiveness. These Subcouncils were: capital formation, education, training, public infrastructure, corporate governance and financial markets, trade policy, manufacturing, and critical technologies. Additional Subcouncils were established in later years.
Read more about this topic: Competitiveness Policy Council
Famous quotes containing the word notable:
“Every notable advance in technique or organization has to be paid for, and in most cases the debit is more or less equivalent to the credit. Except of course when it’s more than equivalent, as it has been with universal education, for example, or wireless, or these damned aeroplanes. In which case, of course, your progress is a step backwards and downwards.”
—Aldous Huxley (1894–1963)