Brookings has just published a very interesting report, "A Dozen Economic Facts about Innovation", which contains some surprising findings. The report supports each finding with facts and very insightful graphics, but here are the 12:
- Innovation drives economic growth and raises wages.
- Innovation improves U.S. life expectancy.
- Innovation makes technology affordable.
- New organizational structures lead to rising standards of living.
- New household technologies allow for more time for family and leisure.
- The pace of American innovation has slowed during the past four decades.
- Innovation has failed to increase wages for a substantial number of Americans.
- Significant barriers to innovation exist in the government and the private sector.
- Federal support for research & development has declined in recent years.
- Relatively few U.S. college students study fields critical to innovation.
- American women are less likely to continue in STEM fields than American men.
- U.S. policy makes it difficult for international students to stay and work.
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