America's Competitive Edge in Science and Technology May be Waning
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Over the past ten years or so, pundits have been warning that the US is losing its competitive edge and that it is no longer the world’s leading nation when it comes to innovation in science and technology. Measuring national competitiveness and innovation is very tricky business and until now, most of evidence to support these claims has been anecdotal. According to an article in today’s New York Times, a report by the Information Technology and Innovation Foundation suggests that the US ranked sixth among 40 countries and regions based on 16 indicators that measure innovation and competitiveness including venture capital investment, numbers of per capita researchers, research spending and educational achievement.
While the results of Foundation study may be troubling (if you are a US citizen), another recent study conducted by the World Economic Forum found that America ranked first in innovation and global competition. However the forum’s report was based entirely on opinion survey data. Like the forum report, a study conducted by the Rand Corporation last year, also found that “the US was not in any imminent danger of losing its competitive advantage in science and technology.” The use of the word “imminent” is perhaps the most telling aspect of the Rand Corporation’s conclusion about American competitiveness.
The US lost ground to much smaller countries like Sweden, Finland, Taiwan, Singapore and also to one of it's main competitors, China. Unlike the US, all of these countries are pursuing government-sponsored initiatives designed to promote innovation and global competitiveness. Some of the elements of these initiatives include education, workforce development training, intellectual property protection and immigration. Surprisingly, results from the foundation report (adjusted for population and size of each economy) showed that the US ranked sixth in venture capital investment (Sweden was first); fifth in corporate research and development spending (Japan was number one) and fourth in the number of science and technology researchers (again Sweden was first). Over all, Singapore ranked first in innovation and competitiveness. As some of you may know, Singapore--for the past 10 years--has heavily invested in the life sciences and has managed to induce some of world’s leading bioscientists to immigrate.
One of the main recommendations of the report suggests that the federal government ought to follow the lead of the individual states, many of which developed state government-sponsored programs designed to attract investment, talent and improve the work force skills of local would be employees. Further, the report specifically recommends that the federal government offers tax breaks and incentives to induce American companies to innovate at home rather than outsource R&D activities abroad. Some of these incentives could include tax research tax credits and increased federal funding or corporate tax breaks for workforce development programs.
Finally, one of the most shocking statistics that I heard in President Obama’s speech to Congress last evening was that 50% of American students drop out of high school and over 50% of college students never complete their education. This begs the question: How can America expect to remain competitive when a majority of its population is less educated than the rest of the developed world?
A past commitment to education is what propelled the US to become a world leader in innovation and competitiveness. To regain its past status as an innovator, the US must overhaul and vastly improve is primary, secondary and post secondary education system. This is something that cannot wait—the future of American depends on it!
Until next time...
Good Luck and Good Job Hunting ( give teaching a shot)
