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Global Competition John Connors Bozeman July 20131
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Agenda Global Context America’s Big Challenges Big Opportunities Texas vs. California – Two paths and a choice Montana
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Global Context
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A Look back
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Growth Rates Matter – A lot! Bozeman Keynote5
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American IT = Flat World Bozeman Keynote6
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7 China’s Rise – Factory to the world
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R&D – Race for the Future Bozeman Keynote8
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STEM – Asia Serious; U.S. – Needs Immigrants Bozeman Keynote9
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Source: International Monetary Fund, United Nations, and World Bank Bozeman Keynote10 A World Transformed
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Shenzen- 1970 vs. 2012 Bozeman Keynote11
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1980 vs. 2013 Top Market Cap Companies Bozeman Keynote12
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America’s Big Challenges
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Astounding Federal Profligacy Bozeman Keynote14
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Federal Spending vs. Median Income Bozeman Keynote15
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U.S. Debt Per Person Bozeman Keynote16
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Federal Spending as a Household Bozeman Keynote17
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Interest on Debt : How Many States Larger? Bozeman Keynote18
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Average Interest Rate by Decade – Time Bomb! Bozeman Keynote19
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Growth and Energy : 1.0 Correlation Bozeman Keynote20
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Energy Reality vs Current Policy Bozeman Keynote21
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World’s Highest Corporate Tax Rate Bozeman Keynote22
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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 http://americanactionforum.org/rodeo-database Bozeman Keynote23
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Academic Progress Non-Existent Bozeman Keynote24
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Labor Productivity Waning Bozeman Keynote25
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Opportunity Destroyed
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Job Growth Way Below Trend
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Competitiveness Steep Decline Bozeman Keynote28
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Big Opportunities
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Waves of Innovation Coming
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USA - Energy Superpower Bozeman Keynote31
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Major Energy Cost Advantage Today Bozeman Keynote32
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33 Large Scale Re-Shoring at Hand
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Spending vs. Tax Revenue – Still Time to Stop Permanent Decline Bozeman Keynote34
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Growth Only Cure Bozeman Keynote35
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Texas vs. California – A Real Live Laboratory Bozeman Keynote36
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Capital Flows to Where it is Treated Well Bozeman Keynote37
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More Debt = Less Opportunity Bozeman Keynote38
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More Wealth Creation Bozeman Keynote39
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More Jobs Bozeman Keynote40
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Less Misery Bozeman Keynote41
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Montana
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MT - Decent Position for Breakout Bozeman Keynote43
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Bozeman Keynote44 Gross State Product
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Top States for Business – What Matters Bozeman Keynote45
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Global Reading Performance Bozeman Keynote46 Montana
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Global Math Performance Bozeman Keynote47 Montana United States Average
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Montana Social Capital
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Thomas Sowell Bozeman Keynote55
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