As the technology of the world progresses exponentially, and as many industries gradually but surely move towards high levels of automation, skills acquired in higher level education will begin to replace those begotten by physical labor. Many have correctly expressed feeling of worry that having machines replace laborers will cause many jobs to cease to exist.
America's corporate tax system is broken, posing a long-term threat to investment, innovation, and job creation in the United States. The U.S. has the highest corporate tax rate in the developed world – higher than France, Brazil, Venezuela, and dozens of other nations. As a consequence, there are $3 trillion in earnings from U.S. companies locked overseas that otherwise could be invested in the American economy. This makes no sense. Our tax laws should encourage investment here at home.
The National Academies of Sciences, Engineering, and Medicine recently released a giant report on how information technology is influencing the US workforce. I recommend it to anyone interested in job creation, labor-force participation, economic growth, and/or technology. It’s chock-full of interesting findings and ideas for future research.
“Innovation and creative endeavors are indispensable elements that drive economic growth and sustain the competitive edge of the U.S. economy.” Thus reads the start of the executive summary for the 2016 update to the Intellectual Property and the U.S. Economy...
Former Microsoft chief executive officer Steve Ballmer, Seattle design studio Artefact, and a team of academic researchers have launched a website called USAFacts that aggregates 30 years of spending data from more than 70 federal, state, and local government agencies and presents it in easy-to-interpret data visualizations.
President Donald Trump has promised voters his administration's policies will quicken the pace of U.S. growth to three percent a year or more. Even if his administration hits that target for the national economy, some states will likely continue to be left behind. The latest government data Friday shows just how much work the Trump administration faces if it hopes to fulfill its growth target.
The initial federal research investment is small. Eighty percent of the companies in the report cited less than $5 million as the amount of federal funding received for their foundational work. For 40 percent of companies, this amount was less than $1 million. The 102 companies highlighted are predominantly small businesses, like most companies in the United States. Sixty-five percent of companies have fewer than 100 employees. Yet, the companies collectively employ 8,900 people.
“Governments from East to West all want the same thing: economic growth. Now more than ever, world economies must choose whether they will grow forward into the future or shrink back from endless innovative potential,” said Mark Elliot, executive vice president of GIPC. “Each year, this report attempts to highlight best practices among the world’s intellectual property environments. In 2017, many of the same challenges remain.
The purpose of this report is to shed light on just how widely diffused the country’s innovation-driven, high-tech economy really is, so members of Congress and other policymakers can find common cause in advancing an agenda that builds up the shared foundations of national strength in a globally integrated marketplace.
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.