February 14, 2005 9:00 PM PST
U.S. tech leadership to go way of 2004 Dream Team?
The study, to be released Tuesday by the American Electronics Association, argues that the next wave of breakthrough technologies could be created abroad if the United States does not act now to maintain its competitive edge.
"U.S. policy-makers and industry leaders need to recognize that as we neglect our technology infrastructure--skilled labor, (research and development), and a business-friendly environment--many countries are adopting economic reforms and are directly competing with the United States for foreign talent, innovation, and technology products and services," the report states. "Unless this realization hits home, American losses will not be confined to the basketball court."
The study comes on top of other calls for the United States to take steps to improve its technological competitiveness vis-a-vis other parts of the world. Technology prowess is seen as critical to a nation's overall economic health, given the way advances can create new industries, high-paying jobs and a higher standard of living.
To be sure, the U.S. system of technological innovation isn't in tatters. Many United States-based computer and Internet companies are doing well, venture capital investment in tech mecca Silicon Valley is rising again, and the country boasts top research universities.
The new report from AEA calls for more funding for the National Science Foundation, specifically for research in the physical sciences, engineering, math and computer science.
U.S. federal funding of research and development (R&D) has declined over the past two decades, the report states: "It peaked in 1987 at $75 billion and still was below this peak by 2002 at $71 billion, adjusted for
Page 1 | 2
4 commentsJoin the conversation! Add your comment