FIATECH Video Presentation Series-Innovation and E...

Presented by Robert Atkinson, President, Information Technology and Innovation Foundation and Stephen Ezell, Information Technology and Innovation Foundation The economic policies implemented by countries reflect the economic doctrines predominantly held by their economists, politicians, and advisers. In the U.S., the prevalent neo-classical and neo-Kenynesian economic doctrines mostly ignore the role innovation and technology play in fostering economic growth, treating them as exogenous to economic growth, falling like “manna from heaven” like some atomic rate of decay. Many of our competitors, however, have embraced a new economics doctrine—innovation economics—that explicitly place science, technology, and innovation as the focal agents of economic growth. These countries—from Britain and Finland to Japan and South Korea—have created national innovation strategies designed specifically to link science, technology, and innovation with economic growth. As a result, competition among governments has become a critical factor in determining global market share across nations. A recent ITIF study comparing the innovation capacity of 40 nations found these countries’ strategies bearing fruit, with the United States falling to 6th in innovation capacity and ranking dead last in enhancing its innovation capacity over the past decade. Please join Rob Atkinson and Stephen Ezell for a discussion of how economic doctrines impact how nations develop their economic and innovation policies, and what the consequences are for a country’s innovation capacity, competitiveness, and economic growth.