David Brooks just referenced William W. Lewis' unbelievable study in his latest op-ed piece about the rise of Lou Dobbs-style populism. Lewis spent the last ten years of his career at McKinsey studying ten different countries and what contributes to their economic power. With clear writing and amazing statistics, he demonstrates the fundamental strength of the U.S. economy. While a few other countries have one or two cutting edge industries, only the U.S. has a wide foundation of productivity across almost all industries.
That is why the average income in Mississippi is higher than Sweeden. Americans certainly aren't the smartest people in the world. And our primary public education is an embarrassment. But when it comes to allowing free markets to work across industries, America still manages to lead the world.
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