New York Times columnist Tom Friedman discusses our economy’s “secret sauce“:
What would Indian techies give for just one day of America’s rule of law; its dependable, regulated financial markets; its efficient, noncorrupt bureaucracy; and its best public schools and universities? They’d give a lot.
These institutions, which nurture innovation, are our real crown jewels that must be protected — not the 1 percent of jobs that might be outsourced.
But it is precisely these crown jewels that can be squandered if we become lazy, or engage in mindless protectionism, or persist in radical tax cutting that can only erode the strength and quality of our government and educational institutions.
Our competitors know the secret of our sauce. But do we?