Going back to the Founding Fathers and the writing of the U.S. Constitution (with the intellectual property clause), intellectual property (IP) has always featured prominently in the U.S. economy. Yet its importance is too often overlooked and undervalued. The U.S. Department of Commerce’s recent report -- Intellectual Property and the U.S. Economy: 2016 Update -- adds to a growing body of research that helps provide a clearer picture.
Final export control regulations covering a wide range of key photonics areas that were released October 11 for public inspection in the federal register, and will be officially published tomorrow, are an improvement, said leaders of SPIE, the international society for optics and photonics. The rewrite of the Category XII rules is part of the overarching Export Control Reform (ECR) initiative undertaken by the Administration. "These final rules are a positive step forward for the U.S export control system," said SPIE CEO Eugene Arthurs.
As the US presidential candidates lay out competing visions for the country, I have been thinking about a topic they have not yet discussed in detail: what political leadership can do to accelerate innovation. Innovation is the reason our lives have improved over the last century. From electricity and cars to medicine and planes, innovation has made the world better.
A country that raises its corporate tax rate normally would have to worry about its domestic companies moving to foreign lower-tax jurisdictions. Indeed, as the Information Technology and Innovation Foundation has documented, many economic studies have shown a negative relationship between tax rates on the one hand, and productive investment, jobs and innovation on the other.
In today's tech world, Boston is a leading entrepreneurial town. According to a May 2016 report from the U.S. Chamber of Commerce Foundation and the Washington D.C.-based startup incubator 1776, Beantown is the top place to start a company - edging out the hot startup hub of Silicon Valley.
In the fast-changing world of science and technology, if you’re not innovating, you’re falling behind. That’s one of the key findings of The Reuters 100: The World’s Most Innovative Universities. Now in its second year, the list ranks the educational institutions doing the most to advance science, invent new technologies and help drive the global economy.
Productivity growth, the key to rising living standards, has slowed across rich economies for a decade. And the American economy is no exception, with the annual growth rate averaging just 0.7% over the past five years vs. 2.3% in the postwar era. The difference in those rates is the difference in living standards doubling every century rather than every generation or so.
As the US continues to emerge from the Great Recession, there is an urgent need to look beyond Silicon Valley and support high-tech -- or “advanced” -- industries across the country in order to boost sluggish economic growth and reduce economic inequality, according to Mark Muro, a senior fellow at Brookings who directs the Metropolitan Policy Program, which conducted the study.
“There’s a home-field advantage,” said Arthur Dong, a professor at Georgetown’s McDonough School of Business. “Whether it’s state function of government policy or a less formal policy, foreign companies are at a great disadvantage.” That’s in line with Beijing’s desire to cultivate so-called national champions, large domestic companies hoped to one day become China’s most recognizable multi-national brands.
New, robust partnerships between the public and private sectors are needed today to attract and educate the young scientists, technologists, engineers and mathematicians for tomorrow. A stem is the main trunk of a plant, and STEM -- short for Science, Technology, Engineering and Mathematics -- is the main trunk of our economy. A plant that gets too little water will fail to grow. Unfortunately, that’s also what’s happening to STEM education in our country today.