This page mostly refers to a site called Fools’ Gold, which I set up before writing the Finance Curse book. It collates the thoughts of leading thinkers on the subject of what ‘national competitiveness’ might mean. There is an awful lot of woolly thinking out there on this subject. Much of it is rests on what economists call the “fallacy of composition” – the mistaken idea that what is good for one sector of the economy must be good for the economy as a whole.
Britain, for instance, has been told that it must have a “competitive” financial centre (known popularly as the “City of London”) on the assumption that a prosperous City means a prosperous Britain. But the finance curse analysis reveals how much of the City’s wealth is not created but is instead extracted from other parts of the British economy. A prosperous City, it turns out, has meant a less prosperous Britain.
National competitiveness is a complex, nuanced area, which the book explores in great detail. This page also contains the thoughts of a number of leading thinkers in this area. Some are drawn from books they have published, while others are drawn from interviews I’ve conducted with them during the research phase for this book.
Click here for the leading thinkers’ discussions of ‘competitiveness’.
Click here for posts on this theme.