Lechleiter refers to a study published last year by the Information Technology and Innovation Foundation that ranked the U.S. sixth among the top 40 industrialized nations in innovative competitiveness, but dead last in "the rate of change in innovation capacity" over the past decade. The study looked at what countries are doing to become more competitive in the future through higher education, investment in research and development, corporate tax rates, and more.
Lechleiter believes we are at serious risk of falling behind the rest of the world if we fail to take actions to support innovation in industry.

On Global Public Square last month, Fareed Zakaria made the case that the U.S. economy is struggling in part due to poor investment in science. He based this conclusion on two claims: First, that federal research and development (R&D) investment has declined over the past several years and, second, that American students have fallen behind in science education.

A Brookings Fellow told the Congressional Joint Economic Committee that the U.S. is at a technological disadvantage to other industrialized nations due to a declining focus on government-funded research and development (R&D). Michael Greenstone explained in the July 27 hearing the historical importance of R&D funding:

“R&D is one category of spending that develops and drives these new technologies. However, private sector firms are prone to focus their R&D on “applied” projects, where the payoff to their bottom line is likely to accrue only to them… In contrast, government can sponsor the kind of “basic” research projects that seek wide-ranging scientific understanding that can affect entire industries, rather than individual firms.”

Yeah, I have a source for that, let me know if you need more


http://www.newjerseybusinesslawattorney ... tion.shtml


http://www.realclearworld.com/2012/07/2 ... 38477.html


http://campusprogress.org/articles/amer ... novation1/