US Competitive Edge Tied to Inclusive Economic Ecosystems

America's competitive edge can be rebuilt by fostering inclusive and profitable economic ecosystems, a key message delivered at the recent Fast Company Impact Council Annual Meeting. The discussion, which included leaders from Digital Promise and Pyxera Global, challenged the limitations of binary thinking in economic development and technology adoption.

Jean-Claude Brizard, president and CEO of Digital Promise, highlighted the risks of implementing broad technology bans in schools without consulting educators who can effectively integrate educational technology. Deirdre White, CEO of Pyxera Global, pointed to the profitability of recovering rare earth minerals from electronic waste, suggesting a circular economy approach. The speaker argued against a false economic dichotomy between profitability and inclusive growth, asserting that economies can achieve greater resilience and dynamism by enabling broader participation from individuals, communities, and local institutions.

Expanding access to investment capital is crucial for increasing economic participation among talented and innovative Americans, which in turn can help reclaim the nation's competitive edge and redefine expectations for national prosperity. Over 35 years, Living Cities has observed that cities flourish when civic leaders and investment capital, both private and public, are aligned to support residents and regional growth. When aligned leaders focus on opportunities that expand economic participation, the aggregate value of capital tends to surpass investment levels that are restricted by exclusionary practices.

Limiting who can build, grow, and own businesses hinders national competitiveness. Conversely, broadening the base of participation and investment stimulates greater economic engagement and fosters the creation of new markets. This inclusive approach is presented as essential for revitalizing American economic strength and ensuring widespread prosperity.