What is economic progress What is freedom Two research orga

. What is economic progress? What is freedom? Two research organizations rank countries by their economic competitiveness with quite different results. Based on these rankings address the following questions; ? Provide a brief (one paragraph) overview of this week’s material. ? Why do they do reach different conclusions? ? Explain which research organization\'s ranking best describes the state of the world economy. Include support from course materials to support your explanation. One ranking comes from the World Economic Forum, http://www.weforum.org/ It describes itself as follows: The World Economic Forum is an independent international organization committed to improving the state of the world by engaging business, political, academic and other leaders of society to shape global, regional and industry agendas. Incorporated as a not-for-profit foundation in 1971, and headquartered in Geneva, Switzerland, the Forum is tied to no political, partisan or national interests. The report on competitiveness is available at: http://reports.weforum.org/global-competitiveness-report-20142015/ Another ranking, described in the textbook comes from the Heritage Foundation http://www.heritage.org/ It describes itself as follows: Founded in 1973, The Heritage Foundation is a research and educational institute - a think tank - whose mission is to formulate and promote conservative public policies based on the principles of free enterprise, limited government, individual freedom, traditional American values, and a strong national defense. The report is available at: http://www.heritage.org/index/Default.a spx Your final product will be a paper that: ? Addresses each of the questions in total. ? Is APA fortatted. ? The body is to be 2 pages minimum. The requirements for your assignment are: 1. Answer each question fully 2. Define the overall subject of each question. 3. Cite at least three (3) resources from this week’s materials

Solution

Switzerland tops the GCI for the seventh consecutive 12 months. Switzerland leads the innovation pillar, due to its world-class research associations (1st), high spending on research and progress (R&D) with the aid of corporations (1st), and robust cooperation between the educational world and the personal sector (third). But many other factors contribute to Switzerland innovation ecosystem, including the level of trade sophistication (1st) and the nations potential to nurture and entice talent. Switzerland boasts an quality schooling procedure at all phases and is a pioneer of the dual education method. The labor market is totally effective (1st), with high stages of collaboration between labor and employers (1st) and balancing worker protection with flexibility and trade desires. Swiss public associations are among the many most amazing and transparent on this planet (6th), and competitiveness is additional buttressed by way of fine infrastructure and connectivity (sixth) and highly developed economic markets (10th). Last but now not least, Switzerland macroeconomic environment is one of the most stable global (6th) at a time when many developed international locations proceed to wrestle in this discipline.

These very powerful monetary fundamentals aid to explain Switzerlands resilience throughout the drawback. Yet latest tendencies have created a number of draw back risks and depart little coverage space. These incorporate the sluggish recuperation in key trading associate nations; the appreciation of the Swiss franc following the exit of the exchange rate floor; near-zero inflation; and bad actual curiosity charges. Uncertainty about future immigration policy following the referendum towards mass immigration might undermine Switzerlands ability to tap into the worldwide ability pool needed to vigour its economic climate. Switzerland need to proceed to sharpen its aggressive side to justify the high fee of doing industry in the country.

Singapore ranks 2nd for the fifth yr in a row, with some of the steady performances of all economies, being in the prime 10 in nine out 12 pillars. Singapore remains the exceptional performer in relation to the total effectivity of markets, and one of the vital two economies along with Hong Kong SAR ranking in the prime three in items, labor, and economic market efficiency. In certain, Singapore can depend on essentially the most bendy and the second most attractive labor market on this planet, despite the fact that the participation of women in the personnel remains fairly low (75th). With the satisfactory bigger schooling and training approach in the world (1st, overtaking Finland), Singapore is good positioned to develop technological adoption (fifth, up two), trade sophistication (18th, up one), and innovation (stable at ninth). The economy can rely on prime-notch infrastructure (2nd), a transparent and efficient institutional framework (2nd), and a stable macroeconomic environment (12th). In distinct, the federal government produced a big budget surplus an identical to 4.2 percent of GDP in 2014 (6th largest).

The united states retains 3rd situation. Despite the fact that many risks arguably loom on the horizon, the countrys restoration can build on improvements in associations public-sector efficiency is rated better than in previous years its macroeconomic environment, and the soundness of its financial markets. The united states predominant force is its designated combo of high-quality innovation capacity (4th), massive market dimension (2nd), and sophisticated organizations (4th). The nations innovation capacity is pushed with the aid of collaboration between organizations and universities (2nd), human capital (4th on availability of scientists and engineers), and company spending on R&D (third). The U.S. Also advantages from bendy labor markets (4th) and an total well-developed economic sector (fifth).

Nonetheless, as accommodative economic policy will slowly phase out and the us dollar has reinforced, the country will have to embark on a range of reforms to ensure that productiveness progress picks up. These incorporate improvie the pleasant of education (18th), in exact on the main level, and carrying on with to stabilize its macroeconomic environment (96th), which must incorporate addressing high health and social safety expenses and ensuring persevered strengthening of the financial process.