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Global Competition John Connors Bozeman July 20131.

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Presentation on theme: "Global Competition John Connors Bozeman July 20131."— Presentation transcript:

1 Global Competition John Connors Bozeman July 20131

2 Agenda Global Context America’s Big Challenges Big Opportunities Texas vs. California – Two paths and a choice Montana

3 Global Context

4 A Look back

5 Growth Rates Matter – A lot! Bozeman Keynote5

6 American IT = Flat World Bozeman Keynote6

7 7 China’s Rise – Factory to the world

8 R&D – Race for the Future Bozeman Keynote8

9 STEM – Asia Serious; U.S. – Needs Immigrants Bozeman Keynote9

10 Source: International Monetary Fund, United Nations, and World Bank Bozeman Keynote10 A World Transformed

11 Shenzen- 1970 vs. 2012 Bozeman Keynote11

12 1980 vs. 2013 Top Market Cap Companies Bozeman Keynote12

13 America’s Big Challenges

14 Astounding Federal Profligacy Bozeman Keynote14

15 Federal Spending vs. Median Income Bozeman Keynote15

16 U.S. Debt Per Person Bozeman Keynote16

17 Federal Spending as a Household Bozeman Keynote17

18 Interest on Debt : How Many States Larger? Bozeman Keynote18

19 Average Interest Rate by Decade – Time Bomb! Bozeman Keynote19

20 Growth and Energy : 1.0 Correlation Bozeman Keynote20

21 Energy Reality vs Current Policy Bozeman Keynote21

22 World’s Highest Corporate Tax Rate Bozeman Keynote22

23 Regulation Rampage 2012 Federal Register—the official directory of regulation—78,961 pages ;1986 - 44,812 pages; 1936 - 2,620 Growth in US Economy 1936- 2012 = 12x (inflation adjusted); Federal Register growth 30x Last time regulation was cut was under Ronald Reagan - number of pages in the Federal Register fell by 31%. Surprise! Real GDP grew by 30% in that same period. Lasted just eight years. Since 1993, 81,883 new rules have been issued. In the past 10 years, the "final rules" issued by our 63 federal departments, agencies and commissions have outnumbered laws passed by Congress 223 to 1. Right now there are 4,062 new regulations at various stages of implementation, of which 224 are deemed "economically significant," i.e., their economic impact will exceed $100 million. The cost of all this -, $1.8 trillion annually—that's on top of the federal government's $3.5 trillion in outlays, so it is equivalent to an invisible 65% surcharge on your federal taxes, or nearly 12% of GDP Costs of regulation for small businesses (those with fewer than 20 employees) are 36% higher per employee than they are for bigger firms Bozeman Keynote23

24 Academic Progress Non-Existent Bozeman Keynote24

25 Labor Productivity Waning Bozeman Keynote25

26 Opportunity Destroyed

27 Job Growth Way Below Trend

28 Competitiveness Steep Decline Bozeman Keynote28

29 Big Opportunities

30 Waves of Innovation Coming

31 USA - Energy Superpower Bozeman Keynote31

32 Major Energy Cost Advantage Today Bozeman Keynote32

33 33 Large Scale Re-Shoring at Hand

34 Spending vs. Tax Revenue – Still Time to Stop Permanent Decline Bozeman Keynote34

35 Growth Only Cure Bozeman Keynote35

36 Texas vs. California – A Real Live Laboratory Bozeman Keynote36

37 Capital Flows to Where it is Treated Well Bozeman Keynote37

38 More Debt = Less Opportunity Bozeman Keynote38

39 More Wealth Creation Bozeman Keynote39

40 More Jobs Bozeman Keynote40

41 Less Misery Bozeman Keynote41

42 Montana

43 MT - Decent Position for Breakout Bozeman Keynote43

44 Bozeman Keynote44 Gross State Product

45 Top States for Business – What Matters Bozeman Keynote45

46 Global Reading Performance Bozeman Keynote46 Montana

47 Global Math Performance Bozeman Keynote47 Montana United States Average

48 Montana Social Capital







55 Thomas Sowell Bozeman Keynote55

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