Investing for growth: thriving in the world marketplace

Free trade is rapidly expanding the world marketplace, providing new opportunities to raise living standards and stimulate long-term economic growth. To capitalize on these opportunities, the United States must overcome problems that reduce its competitiveness, such as regulations that distort market incentives, an education system that may not be preparing a work force equipped to compete in the twenty-first century, and a health care system whose skyrocketing costs have become a burden to taxpayers, government, and business. ; The Federal Reserve Bank of Dallas addressed the opportunities presented by free trade and the concomitant need to increase U.S. competitiveness at the Bank's recent economic conference, entitled "Investing for Growth: Thriving in the World Marketplace." In this article, Fiona Sigalla and Beverly Fox summarize concerns and strategies reviewed and debated in conference sessions.