New York Times Downplays U.S. Decline

In my World Economists Confirm America's Decline Under Obama,  I stressed the headline that the World Economic forum’s Global Competitiveness Index lowered the United States’ world ranking from first to fifth during the first three years of Obama’s term.

Unbeknownst to me, the World Economic Forum published its 2012 ranking the next day. With the U.S. election just two months off, the true headline should have been: “U.S. Decline Continues as We Fall from First to Seventh Under Obama.”

The New York Times ignored this headline by emphasizing the growing competitiveness gap within Europe. In its Competitiveness Gap Widening in Europe, the venerable Times gives one brief mention to the further collapse of U.S. competitiveness hidden in the middle of the article:

“Switzerland, which is not a part of the European Union, takes top place in the global table, with Singapore second, the United States occupying 7th position — down two places from last year — and Canada at 14th. China, in 29th place, is rated the most competitive among large emerging markets.”

And the Managing Editor of the Times denies any form of media bias in her newspaper.

World Economists Confirm America’s Decline under Obama

U.S. voters are being barraged by claims and counter claims of how many jobs were lost or created under the Obama administration, did the Detroit bailout hurt or help, and whether Obama or  Republican stonewalling are to blame for the feeble recovery. This partisan din kicks up a huge cloud of dust as self-appointed “independent fact checkers” and “nonpartisan” think tanks contradict each other. Large numbers of economists, some prominent and others less so, line up on both sides. Pity the harried undecided voters in search of non-partisan information.

American voters could well look above our political fray to the World Economic Forum’s Global Competitiveness Index (GCI).  Every year starting in 2004, the GCI ranks the world economies by their “competitiveness,” defined as “the set of institutions, policies, and factors that determine the level of productivity of a country,” which, in turn, determines “the level of prosperity that can be earned by an economy.”

Throughout most of its short history, the GCI ranked the United States first or second. At times, Switzerland, Finland, Singapore, Denmark, and Finland have given the U.S. a run for its money.

The GCI, to its credit, addresses what should be the core issue of any political debate in any country: How well have country leaders managed the economic and political institutions that create prosperity and growth? Obama should be re-elected or “let go” depending on how American voters evaluate his stewardship of America’s political and economic institutions.

The World Economic Forum’s motto is: “Committed to Improving the State of the World.” Its annual winter meeting in Davos, Switzerland  attracts the world’s jet-setting political, business, and intellectual glitterati as they discuss issues de jure -- the world economy, health and HIV, climate change, and globalization. Presidents, prime ministers, central bankers, queens and parliamentary/congressional notables rub shoulders with Bill Gates, Russian oligarchs, Henry Kissinger, Bill and Hillary Clinton, Al Gore, and Kofi Annan.

Barack Obama fits the intellectual, cosmopolitan, and global profile of the World Economic Forum to a T. A GCI conclusion that U.S. political and economic institutions deteriorated under Obama’s stewardship could not be spun as partisan by Obama’s spin masters.

go to forbes.com