Skip to: Content
Skip to: Site Navigation
Skip to: Search

December 2, 2008 8:35:18 PM CST

Learn about Newser Points »

« Back to the grid | Next story »

Our Economic Cure? Innovation

Posted Sep 14, 08 1:37 PM CDT in Business,  Opinion,  Technology 

(Newser) – Democrats and Republicans do have something in common: Both parties are wrong on how to resuscitate the flat-lining US economy, Michael Mandel argues in BusinessWeek. Tax cuts or increased government spending aren’t the cure. “Innovation is the best—and maybe the only—way the US can get out of its economic hole,” Mandel insists, adding that money alone isn’t enough.

He finds hope in the new field of innovation economics, which is looking for tangible ways to get results from investments in research and development. "One of the hottest areas in the field is the use of government aid to cultivate 'innovation clusters,' or collections of local companies and academic institutions working together to create new products and processes." If such ideas succeed, they will render partisan debates moot.

Source BusinessWeek

0 comments | Print E-mail | Digg Seed this on Newsvine Add this link to Del.icio.us StumbleUpon
"95% of economists agree that innovation is the most important thing for long-run growth," said an MIT researcher.   (Shutter Stock)
Some economists favor conducting more R&D overseas because scientists and engineers are cheaper elsewhere, and global collaboration can improve results by bringing in more diverse perspectives.   (Shutter Stock)
« Prev« Prev | Next »Next » Slideshow

The main purpose of economic policy should be to spur innovation and growth. - Robert Atkinson, economist

America still is a leader in resources devoted to innovation. But it can't compete with China, India, and other developing countries on labor costs.
- Michael Mandel, BusinessWeek

Innovation is not just exerting effort and spending money. It's problem-solving.
- Karim Lakhani, Harvard Business School

« Prev« Prev | Next »Next » Slideshow
Our editors also recommend:

Threads (
1
 of 2)

Tags

China • Republican • India • Democrats • trade • tax cuts • innovation • nanotechnology • information technology • biotechnology • foreign oil • economist • US productivity • research and development


Loading...

Premium Articles from HighBeam

Find more articles like this

Today's Most Popular

Loading...

Other Technology Stories

What is Newser?

2008 Codie Finalist

Face it: there's too much news. At Newser a team of editors and writers culls the most important stories from hundreds of U.S. and international sources and reduces them to a headline, picture, and two paragraphs. It's the Newser guarantee: we can take any report or column or video and pack what you need to know into 120 words or less. Newser's short-form aggregation, visual format, and unique information tools help you get more of the kind of news you want, in a quicker and more entertaining way. And we do it 24/7—you can come back morning, noon, night (and in between) for something new that matters. Read less, know more.

Learn more »