Sweden overtakes the US in competitivness and is only topped by Switzerland according to The Global Competitiveness Report 2010-2011 published by the World Economic Forum.
"Sweden benefits from the world’s most transparent and efficient public institutions, with very low levels of corruption and undue influence. The government is also considered to be one of the most efficient in the world, stated the report.Private institutions also received excellent marks, with firms that demonstrate the utmost ethical behavior (ranked 1st ), strong auditing and reporting standards, and well-functioning corporate boards. Goods and financial markets are also considered very efficient.
'Combined with a strong focus on education over the years (ranked 2nd for higher education and training) and the world’s strongest technological adoption (ranked 1st in technological readiness), Sweden has developed a very sophisticated business culture (2nd) and is one of the world’s leading innovators (ranked 5th)', said the World Economic Forum in its report."