The writing is on the wall: China is the world second largest economy and the growth rate has slowed sharply. The wages are rising, so that the fabled army of Chinese cheap labor is now among the most costly in Asian emerging economies. China, in the last thirty years has brought hundreds of millions of people out of poverty, but this miracle would stall unless China can undertake another transformation of becoming an innovation nation. Historically, leading national economies are almost inevitably the global leaders in technology.
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.
The United States, Singapore, Finland, the Netherlands, Sweden, Switzerland and Israel were among the top countries when it comes to adopting and adapting to new technologies, according to the Global Information Technology Report 2016 from the World Economic Forum. The Global Information Technology Report measures countries' success in “creating the conditions necessary for a transition to a digitalized economy and society,” according to WEF.
So why have we not seen the strong productivity growth we need? As explained in the recent ITIF e-book Think Like an Enterprise: Why Nations Need Comprehensive Productivity Strategies, there is solid research suggesting that the slowdown is not a cyclical phenomenon, nor is it because we are measuring output incorrectly.
While there are certainly differences between the heavy equipment and manufacturing industries, there are similarities between the natures of the skills gap affecting their workforces. These connections between the experiences provide a broader context for the challenges facing businesses due to the shortage of technical workers.