For IT workers, the chance to use emerging technologies represents an opportunity to develop new skills, which increases the wages they will command in the future. It follows that IT workers would be willing to earn less in the near term at a job that utilizes new technology in order to burnish their credentials and earn more later, which defrays the costs employers face in adopting new IT systems.
August 5, 2019
Fact of the Week: IT Workers Accept 2 to 4 Percent Lower Wages to Work at Companies That use Emerging Technologies
August 1, 2019
The United States is one of the most prosperous economies on earth because our elected officials and other leaders have embraced, or at least accepted, “creative destruction.”
July 29, 2019
Fact of the Week: Secret Patents Filed in 1945 Were Cited 15 Percent More Than Secret Patents Filed in 1940
From 1940 to 1945, the U.S. Patent and Trademark Office (USPTO) issued more than 11,000 secrecy orders on patent applications deemed important to the war effort, forbidding inventors from disclosing their discoveries or filing patents in other countries. Secret patents can prevent inventors from defending their intellectual property or commercializing their inventions and prevent other scientists from learning from the advances to make further discoveries.
July 29, 2019
Perhaps the most important step developing nations need to take is throw lump-of-labor thinking overboard and embrace productivity growth, including from technology like self-service gas stations.
July 24, 2019
The net result of this legislation would be to increase support for research by start-ups without breaking the link between the credit and actual taxes paid. This should significantly bolster the U.S. innovation ecosystem.
July 22, 2019
If the history of automation teaches us anything, it is that while automation can temporarily displace some workers it also raises living standards for society by reducing costs, improving quality, and allowing people to concentrate on higher-value work.
July 15, 2019
Fact of the Week: Manufacturing Contributed 14 Percent of U.S. Economic Growth From 1987 to 2016, but it has Been Contracting Since 2007, Such That is now Reducing Growth by 1 Percent
Manufacturing’s smaller role in the U.S. economy is hotly debated, with many blaming automation for its demise. But analysis of a recently expanded BEA and BLS dataset demonstrates both how stark manufacturing’s decline has been and that fears of automation are largely misplaced.
July 12, 2019
With China becoming more assertive, one might think Taiwan would feel the need to increase productivity and innovation, including by working more closely with U.S. companies. Apparently not.
July 8, 2019
Fact of the Week: The Chinese Government Provided Approximately $132 Billion in Export Financing in 2018
Until the last decade, major nations primarily provided financing to domestic exporters only as a lender of last resort. Since then, official medium- and long-term export crediting has more than doubled from $55 billion in 2008 to $129 billion in 2018.
July 1, 2019
Fact of the Week: Equipping Trains With Real-Time Positioning Systems Allows for Dynamic Speed Requirements, Which Reduces the Average Delay by up to 42 Percent
Trains have traditionally relied on signals from human dispatchers to determine their speed. However, large disparities in the speeds that different trains can travel causes significant inefficiencies in this process. New analysis of Southern California’s rail network has found that new positive train control technology can dramatically improve efficiency.