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  • Essay / The United States: Leaders in Technological Innovations

    From the assembly line to the computer processor and the Internet, world-changing technological innovations have been developed in the United States. Built on a system that encouraged entrepreneurial leadership by rewarding risk, the U.S. economy dominated the world while its closest competitors isolated themselves from the global economy. Yet America's competitiveness is not simply the result of culture, but also of the public and private sectors' commitment to investing in new ideas and scientific innovations. Yet there are growing fears that America is losing its place as a global technology leader. A recent report from the Information Technology and Innovation Foundation found that the United States ranked sixth among 40 countries and regions, based on 16 indicators of innovation and competitiveness, including venture capital investment , scientific researchers, research spending and academic success. Even if American politics remains stable, the world has changed. For decades, most of the world's economies were a closed system, but, thanks in part to technological advances in the United States, the world has become, in the words of Thomas Friedman, "flatter." But the question remains: does the emergence of new economies really threaten the competitiveness of the United States? Although there are a number of competitiveness factors that, taken in isolation, would not necessarily constitute a crisis, their interdependence makes a more compelling argument that the trend is not sustainable. In order to understand what will make the United States more competitive in the future, it is important to recognize the policy initiatives that have led to current success. Modern emphasis on technological advances......middle of article......r basic research to encourage active academic programs. Financial incentives should be available to companies to create an atmosphere that encourages all levels of research in the private sector. Additionally, similar to President Kennedy's mission to put a man on the Moon, leaders at the highest levels could award a National Innovation Award to spur innovation and advance national interests, such as as environmental protection. Finally, the United States should reform its immigration laws, increasing the cap on high-skilled jobs to encourage foreign students to stay after graduation. The United States should welcome its contribution to American economic growth. Policymakers need only look at past initiatives to chart a path forward. The future depends on the investments the United States makes today to maintain the country's competitiveness and ensure its long-term economic prosperity..