In a market as large but as closed as the US, it’s easy enough to manipulate politicians in Washington to see things your way and allow companies to become bloated and uncompetitive. Examples include the automobile industry and telcos who never seem to comprehend just out of touch with reality they are yet they continue to hold enough power to keep them on a not-so-competitive downward spiral, essentially helping global players move in and delivering lower quality to buyers in the US and around the world. Considering the overall competitiveness of the US during the Cold War – a key differentiator according to many – the US has lost its way in big business.
For the time being I still see few competitors to the US domination with new business creation/startups in various high tech fields though the trends in big business are significant enough that this too could change. Admittedly I have a small business bias after 17+ years with startups but it is no ones best interest to see these businesses decline. The jobs related to these companies are important so it’s important that US companies are built for the future and not the past. Coddling and protecting the US behemoths from competition clearly helps the executive boardroom crowd shower themselves with money and a sense of self-importance but does nothing to prepare them for global competition, where they are becoming less relevant.