5.7 Competitiveness and Productivity

 The health of a nation’s economy in the global marketplace relies on its productivity and competitiveness.

 In recent years the U.S. hasn’t been as globally competitive in vital areas of technology.

 The U.S.’ production of patents has fallen in recent years, which can cause certain countries to potentially corner vital technological markets.

 While the number of doctorates in science and engineering have gone up in the U.S. in the past several years, a portion of these numbers are foreign students, who may opt to return to their home country, rather than contribute to America’s economy.

 The World Economic Forum in its annual Global Competitiveness Report for 2012-2013,evaluates and ranks the top 10 countries that are based on a variety of factors. The U.S. was ranked 7th, with Switzerland being 1st.

 Congress in 2010 authorized the America COMPETES Reauthorization Act, which provided funding for scientific research, and cutting edge innovations in energy, as well as better education in the STEM fields at all levels.