What are American competitive advantages in the global arena?

Question

What are American competitive advantages in the global arena?

Answer 1

- diverse economy

- diverse and skilled labor force

- advanced military with advanced private military research and development companies

- a culture that is popular around the world, even when our government screws up royally like in Iraq.

Answer 2

what is the point of studying economics if, as the first answerer put it, a competitive disadvantage is high wage rates and standards of living?

it's a competitive disadvantage for our workers to be prosperous?  THIS is a big red flag for you that our trade policy (which is in place to take advantage of lower wages around the world) is failing and based on a false premise (ricardo's comparative advantage theory).

Answer 3

The United States has, for the most part, a very business-friendly environment when compared with some other countries.  While it is true that our wage standards are higher than Asian countries, we have a very skilled and educated workforce.  US institutions of higher-learning are among the best in the world, and the best-and-brightest come here to learn.  

The US is a great place for innvoation.  We have intellectual property rights that are advantageous for innvoation and enterprise.  In short, the US is a great place to launch a new idea/technology, with very low entry costs.

Answer 4

Our competitive advantages are changing, as the global economy is changing. As more low paying, relatively unskilled jobs leave our country, we are left with a greater number of information based, higher paying jobs. However, our elevated standard of living, relatively low taxes, and relatively low unemployment rates make our country attractive to jobs paying greater wages.