Last week on Tom Keene's show, HBS professor Michael Porter:
America has some very important weaknesses; we all know what they are: they're public education, they're unnecessary complexity in costs of doing business, they're lack of a credible safety net that helps people through transitions in terms of pensions and healthcare. And we have not made any headway in dealing with those fundamental problems. . . .
Washington is fundamentally broken. There's literally no strategic thinking. There's no capacity to take coordinated long-term action... The stimulus is giving us one more reason not to address the real problems in America. . . .
We're making almost zero progress on all these issues, and yet there's this massive amount of talk and activity going on and all this money is being spent.
Other countries do a better job at this... They think strategically and they have long-term plans. We don't do that.
(transcribed by yours truly; emphasis mine)
Porter also gives the Obama/Dem "stimulus" a C-, and he discusses the weaknesses caused by MBA's not being able to do math.
If you aren't listening to Tom Keene's Bloomberg on the Economy podcast, start now.
