America is now a less favorable place to invest and start businesses,
according to recent rankings of 144 countries by the Legatum Institute;
and the president’s tax plans threaten to make America even less
competitive.
The United States dropped out of the top 10, to 12th, for the first time in this year’s Prosperity Index, in large part due to the United States’ drop in the Entrepreneurship and Opportunity sub-index from 5th to 12th place.
The Legatum Institute’s leadership pointed to a couple of reasons for the U.S. fall. Start-up costs for businesses in America have doubled over the past two years, said Nathan Gamester, program director for the Prosperity Index.
Start-ups in the United States are now twice as expensive as in the United Kingdom, said Julian Knapp, Legatum’s Director of Communications. The U.K., while ranked just behind the U.S. overall, is ranked 6th in “entrepreneurship and opportunity.”
For entrepreneurship to thrive, “it’s got to be affordable,” Knapp said.
Knapp also pointed to a drop in Americans’ overall optimism about opportunities. Fewer people believe they will get ahead if they work hard. And the Prosperity Index’s report notes another subjective drop: “U.S. citizens’ overall satisfaction with living standards has declined since last year.”
The Legatum Institute’s president, Jeff Gedmin, did not directly link President Obama’s policies to the declining optimism and opportunities in America.
But the United States’ decline in the index correlates with Obama’s tenure. Over the past two years, the United States has slipped from 3rd to 5th to 12th in the world in the Prosperity Index’s entrepreneurship and opportunity sub-field.
Read more: http://freebeacon.com/no-competition/
The United States dropped out of the top 10, to 12th, for the first time in this year’s Prosperity Index, in large part due to the United States’ drop in the Entrepreneurship and Opportunity sub-index from 5th to 12th place.
The Legatum Institute’s leadership pointed to a couple of reasons for the U.S. fall. Start-up costs for businesses in America have doubled over the past two years, said Nathan Gamester, program director for the Prosperity Index.
Start-ups in the United States are now twice as expensive as in the United Kingdom, said Julian Knapp, Legatum’s Director of Communications. The U.K., while ranked just behind the U.S. overall, is ranked 6th in “entrepreneurship and opportunity.”
For entrepreneurship to thrive, “it’s got to be affordable,” Knapp said.
Knapp also pointed to a drop in Americans’ overall optimism about opportunities. Fewer people believe they will get ahead if they work hard. And the Prosperity Index’s report notes another subjective drop: “U.S. citizens’ overall satisfaction with living standards has declined since last year.”
The Legatum Institute’s president, Jeff Gedmin, did not directly link President Obama’s policies to the declining optimism and opportunities in America.
But the United States’ decline in the index correlates with Obama’s tenure. Over the past two years, the United States has slipped from 3rd to 5th to 12th in the world in the Prosperity Index’s entrepreneurship and opportunity sub-field.
Read more: http://freebeacon.com/no-competition/
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