Uselessness of Competitiveness Report Confirmed

When the ranking of competiveness from the World Economic Forum was issued in late September, I dismissed the report as useless based on the observation that despite the fact it defines competitiveness as growth it ranks rapidly growing economies like China, India and Latvia very low while ranking slow-growing economies like Sweden and Germany very high.

Now a more systematic look at this issue published on Johnny Munkhammar's blog confirms this and shows that there is zero correlation between "competitiveness ranking" and growth. In my original post, wrote that a dart-throwing monkey probably would do better. Well, that was perhaps a bit too hard. It seems that the "World Economic Forum" is merely equally bad as the dart-throwing monkey....