By Veronique de Rugy (Mercatus Center)
The following charts use data from the World Economic Forum’s (WEF) global competitiveness report to show how the United States measures up against the rest of the world. The global competitiveness index examines multiple factors, including a country’s political institutions, infrastructure, macroeconomic environment, financial markets, and innovation.
The United States has dropped in the rankings for the fourth consecutive year and is now in seventh place. In 2008 the United States placed first.
According to the WEF, “the political brinkmanship in the United States continues to affect the outlook for the world’s largest economy.” The WEF also points to some of the structural weaknesses that continue to push the United States down in the rankings: a growing distrust with politicians and the political process; concerns regarding public and private-sector relationships; and concerns regarding government waste.
European nations take up half of the top ten spots for 2012–13, with the United States and three Asian economies (Singapore, Hong Kong, and Japan) rounding out the rest.
