JP Hochbaum
DP Veteran
- Joined
- Feb 7, 2012
- Messages
- 4,456
- Reaction score
- 2,549
- Gender
- Male
- Political Leaning
- Independent
Countries that invest more in research, education and have lower inequality are catching us, and our progress is now second to last:
"The U.S. used to be the envy of the world when it came to innovation, making things that dazzled the world and enhanced the lives of millions. But the Information Technology & Innovation Foundation, a bipartisan think-tank that ranks 36 countries according to innovation-based competitiveness, tells us we’re getting pushed aside on the global innovation stage. In 2009, to the surprise of those conducting the study, the U.S. ranked #4 in innovation, behind Finland, Sweden and Singapore. In 2011, the U.S. ranking was unchanged. Worse, the U.S. ranked second to last in terms of progress over the last decade.
Research by the Organization for Economic Cooperation and Development (OECD) also shows that the U.S. is not making as many cutting-edge products as it used to, and that other countries with strong investment in the foundations of innovation, like education and research and development, and fewer of the things that hinder it, like income inequality, are making greater strides than we are."
Lynn Parramore: The Depressing Tale of How Greedy Financial Titans Crushed Innovation and Destroyed Our Economy « naked capitalism
"Lazonick thinks what we really need is a whole new mindset about the economy. He recommends several things that would help get us back on track:
• Understand that markets don’t create value, but that organizations investing in productive capabilities, like business, governments, and households do.
• Ban stock repurchases by U.S. corporations so corporate financial resources can be channeled to innovation and job creation instead of wasted for the purpose of jacking up companies’ stock prices.
• Realize that the shareholder value ideology is destructive and will cause us to lag behind other countries that don’t subscribe to it.
• Regulate employment contracts to ensure that workers who contribute to the innovation process get to share in the gains from innovation.
• Create work programs that make use of and enhance the productive capabilities of educated and experienced workers whose human capital would otherwise deteriorate through lack of other relevant employment.
• Move toward a tax system that channels some of the money made on the gains from innovation toward government agencies that can invest in the public knowledge base needed for the next round of innovation."
"The U.S. used to be the envy of the world when it came to innovation, making things that dazzled the world and enhanced the lives of millions. But the Information Technology & Innovation Foundation, a bipartisan think-tank that ranks 36 countries according to innovation-based competitiveness, tells us we’re getting pushed aside on the global innovation stage. In 2009, to the surprise of those conducting the study, the U.S. ranked #4 in innovation, behind Finland, Sweden and Singapore. In 2011, the U.S. ranking was unchanged. Worse, the U.S. ranked second to last in terms of progress over the last decade.
Research by the Organization for Economic Cooperation and Development (OECD) also shows that the U.S. is not making as many cutting-edge products as it used to, and that other countries with strong investment in the foundations of innovation, like education and research and development, and fewer of the things that hinder it, like income inequality, are making greater strides than we are."
Lynn Parramore: The Depressing Tale of How Greedy Financial Titans Crushed Innovation and Destroyed Our Economy « naked capitalism
"Lazonick thinks what we really need is a whole new mindset about the economy. He recommends several things that would help get us back on track:
• Understand that markets don’t create value, but that organizations investing in productive capabilities, like business, governments, and households do.
• Ban stock repurchases by U.S. corporations so corporate financial resources can be channeled to innovation and job creation instead of wasted for the purpose of jacking up companies’ stock prices.
• Realize that the shareholder value ideology is destructive and will cause us to lag behind other countries that don’t subscribe to it.
• Regulate employment contracts to ensure that workers who contribute to the innovation process get to share in the gains from innovation.
• Create work programs that make use of and enhance the productive capabilities of educated and experienced workers whose human capital would otherwise deteriorate through lack of other relevant employment.
• Move toward a tax system that channels some of the money made on the gains from innovation toward government agencies that can invest in the public knowledge base needed for the next round of innovation."