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Reversing U.S. Innovation Decline: What the U.S. Economy Needs for the Next Decade

A recent report by the Information Technology Innovation Foundation cities that the U.S. ranks last out of 40 nations in progress made in the last decade on innovation‐based

competitiveness. When compared to other nations around the world, we have failed to grow

our innovation economy (factors such as corporate R&D, scientists and engineers, venture

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capital and others).

The consequences of our decline are significant. The lack of innovation‐based

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competitiveness contributed to the financial crisis and is a key factor today in the anemic

nature of the current U.S. recovery.

And unless we take steps now, on an array of fronts – tax policy, trade, support for science and technology, education and others – the U.S. will continue to slip with deleterious implications going forward for productivity, wage growth, business vitality, and the trade deficit. Our panel will discuss what is needed and how best to foster the necessary policy, scientific and other developments to make American innovation, and therefore the economy, thrive.



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