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Astounding advances in recent years in the natural sciences and biotechnology has put us at the dawn of a "bio-economy." Life-sustaining scientific advances and significant economic opportunities will go hand-and-glove in this economy. Unfortunately, U.S. regulatory policies are not keeping up with science and political leadership is needed to turn back ideological and unfounded fears about...

Economically, the Asia Pacific region is a vibrant and complex place. The policies of individual countries and their relationships with one another will have a huge influence on the United States' economic future and impact the entire globe. Within the 21-member Asia Pacific Economic Cooperation bloc, innovation policies vary. It is critical to encourage the widespread adoption of pro-growth...

Never mind the quaint idea that one day anyone currently 35 or older will tell their grandchildren about the day they got cable TV or cell phones the size of eggplants. They can be just as amusing or (seem just as old) to their colleagues who are only 25. Indeed, we live in a time of astonishing proliferation of devices, applications and growing demands for spectrum. Unfortunately, we are...

If federal R&D investment had been sustained at the 1960-1980 level, in terms of an average share of GDP, these investments would be approaching $230 billion annually today, rather than the current levels of roughly $150 billion. Our robust investment in R&D in the 1960s, 70s and 80s fueled our post-war prosperity and helped set the stage for the IT revolution, advances in biotech and...

As the Congressional super committee edges up to its deadline for submitting a proposal to reduce the nation's long-term debt, what is being ignored is the fact that we have three interrelated deficits to overcome: budget, trade and investment. If we cut investments in R&D, education, and innovation in the name of fiscal austerity today, we will impede growth and set the stage for even...

The example cited in the article by Thomas M. Hout and Pankaj Ghemawat illustrates that something close to extortion is a core element of China's economic development strategy. China is employing this same strategy of divide-and-conquer with Boeing and Airbus as those companies compete for China's huge commercial aircraft market. Of course, China is not alone. As ITIF has documented, "...

Germany has adopted an overall innovation stratergy in recent years which explains why Germany has weathered the Great Recession better than the United States. Germany decided to bring government and private companies together to proactively restructure its manufacturing base instead of waiting for market forces to magically arrest the decline. The German companies that are succeeding in the...

As trade deficits have exploded and millions of manufacturing jobs moved overseas and were replaced by often lower-paying service jobs, Americans have taken solace in the idea that we were simply moving up the value chain and making more sophisticated products. Making these products required more advanced skill and these jobs paid well. The deficit in advanced technology products, however,...

Eight countries have adopted patent boxes in recent years. The UK is slated to implement its own patent box next year. Under a patent box, corporate income attributable to patented products gets taxed a lower rate, sometimes a significantly lower rate. This policy goes beyond providing incentives for R&D and encourages commercialization of new products. It is among the tools more and more...

The National Defense Education Act, created in 1958 in direct response to the Soviet Union's launch of Sputnik, established graduate fellowships for students on the doctoral track in the sciences. While the particular program is no longer in effect, it and similar programs are widely credited with putting more talent in the pipeline and augmenting U.S. science policy. Today, we are...