Friday, December 16, 2011
Some Things To Think About (#1)
U.S. still welcomes business.
Here’s some good news to focus on at Christmas, during admittedly rough economic times. According to the World Bank, the U.S. ranks #4 in “ease of doing business,” behind only Singapore, Hong Kong, and New Zealand, that is, behind a city, a Chinese “administrative region,” and a country that—combined—have only 16 million people (click on chart to enlarge).
The World Bank, once known for massive loans to under gird massive infrastructure projects, has come to appreciate the valuable work entrepreneurs perform in generating economic growth. So it now focuses assistance on helping nations improve their own business climate through laws that encourage business formation and a predictable, level playing field. Of its ten “ease of doing business” criteria, only “getting electricity” is infrastructure-related.
The U.S. certainly could do better, however. On “ease of paying taxes,” another of the ten indicators, America ranks a lowly #72.