U.S. Competitiveness And Global Markets

Abstract

Since the beginning of the 19^th century, the U.S. economy achieved leadership and supremacy in technology, innovation and productivity. This uncontested supremacy was the result of the combined efforts of both private sector investment policies in research and development and the supporting funding government policies of these corporations. These combined efforts in capital intensive R&D programs propelled the U.S. economy to the forefront of innovation and resulted in significant productivity gains--the drivers behind the U.S. long term economic growth, and the increases in the standards of living. Is the U.S. able to maintain its supremacy in innovation-technology and thereby its economic leadership? The authors discuss this question in light of the recent role assumed by the newly emerging countries and their respective educational, technological and economic quest for global reach.