Harnessing Science and Technology for America's Economic Future National and Regional Priorities (1999) / Chapter Skim
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3 The Private-Sector Environment for Innovation
3 The Private-Sector Environment for Innovation
Pages 17-26
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From page 17... ...
manufacturing industries, such as automobiles and semiconductors, seemed to be failing in the face of daunting international competitive challenges.l3 Although many factors fostered the turnaround, including effective national monetary policies, strong support for entrepreneurship in U.S. institutions and culture, and more focused management of U.S.
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From page 18... ...
Although the discontinuities often flow from new science and technology, they also can result from the creative combination of already-available technologies, such as innovations in express delivery. A key comparative strength of the United States has been the ability to initiate and rapidly exploit innovative discontinuities that stimulate economic growth, by transforming existing industries or giving birth to new ones.
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From page 19... ...
The United States appears well positioned to profit by continuing to push incremental technological progress, but where will tomorrow's radical discontinuities come from? Important innovations increasingly are characterized by an extensive research base and an R&D environment in which institutional flexibility is tolerated and even encouraged.
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From page 20... ...
Despite the growth of scientific and technological capabilities outside the United States and the growth of international R&D interdependence through investments by multinational corporations and other mechanisms, national policies and innovation environments are still important. National governments still provide a substantial share of R&D funding in most countries, particularly in support of key institutions, such as research universities.
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From page 21... ...
In the United Kingdom, France, Japan, and Germany, the share of R&D financed by government has declined, as it has in the United States. The share of R&D performed by government laboratories also has declined in developed countries except Germany, and the German trend reflects the influence of reunification.
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From page 22... ...
Still, the international space station and other projects illustrate that cost and other pressures will continue to provide governments with strong incentives to seek international cooperation for large-scale research. After the forum, steering committee members suggested that much work needs to be done by the United States and other countries to build an appropriate institutional framework for expanded cooperation in international science and engineering research.
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From page 23... ...
The rest goes to other private equity investments, such as shopping centers and other real estate projects. Of the venture capital that goes into high technology, perhaps half or less goes to support technology development.
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From page 24... ...
Several recent reports by government agencies and industry associations state that there is a severe shortage of high-technology workers, particularly in information-technology. One way to address the problem in the short term is to increase the number of visas available for foreign scientists and engineers to work in the United States.
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From page 25... ...
THE PRIVATE-SECTOR ENVIRONMENT FOR INNOVATION 25 so-called "junk science" testimony offered by experts engaged by litigants in these often complicated proceedings. Several participants in the forum remarked that product liability reform legislation such as that passed by the Congress but vetoed by the president in 1996 would relieve some of the concerns of those engaged in these enterprises and further free up the productive forces that have made the United States a leader in efforts to capitalize in the marketplace on our science and technology resources.
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