Kent Hughes, Director, Science, Technology, America, and the Global Economy at the Woodrow Wilson Center
The post-World War II years brought unprecedented prosperity to America. Indeed, the concluding half of the 20th century was largely an economic triumph of the "American dream." That success – and the complacency it engendered – was rudely shaken by the economic shocks of the 1970s. "Stagflation," foreign competition, and oil embargos badly shook America. The result was a new competitiveness strategy that fueled the dynamic decade of the 1990s. Kent Hughes argues that a new version of this strategy is needed as the 21st century matures.