"Atkinson and Ezell provide the definitive guide to innovation and its impact on economic prosperity. If you care about innovation, you need to read this book."
-Justin Rattner, Chief Technology Officer, Intel Corporation
Innovation Economics: The Race for Global Advantage is here!
In the final months of an election season in which the economy is the paramount issue, Innovation Economics challenges the "Washington Economic Consensus" and proposes a new Innovation Consensus.
Well-known innovation policy experts Robert Atkinson and Stephen Ezell explore how a weak U.S. innovation economy not only was a major factor contributing to the Great Recession but is standing in the way of recovery. With sobering data and historical insights, they contrast U.S. innovation policy with that of other developed and developing nations to make a compelling case for a new bipartisan national innovation agenda in this critical election year.
Innovation Economics: The Race for Global Advantage presents a detailed, pragmatic road map for the United States to regain its global innovation advantage by 2020.
If you believe the United States is destined to win the global innovation race, consider these troubling facts:
- From 2000 to 2010, capital investment within the United States by manufacturers declined more than 21 percent.
- In the 2000s, the United States did not add a single net new job.
- In 2011, the United States ceded its title as the world's leading manufacturer (a position it had held for 110 years) to China.
- The United States runs about a $100 billion trade deficit in advanced technology products.
Still, Innovation Economics contends the United States can restore its global competitiveness. First, we need a new Innovation Consensus that recognizes that the United States is indeed in an intense global innovation competition and that an innovation policy does not equate to an "industrial policy" of picking winners. We need to put innovation-based competitiveness at the center of economic policy with a more competitive corporate tax code, public investments in science, technology, training, and education, and a new, robust effort to roll back rampant foreign "innovation mercantilism." Otherwise, future generations of Americans will face relatively lower standards of living associated with a non-competitive national economy.
Praise for Innovation Economics:
"Innovation Economics: The Race for Global Advantage offers a frank assessment of many of the underlying causes of our economic challenges and helps explain why recovery has remained so elusive. Rob Atkinson and Stephen Ezell have collaborated on a timely call to action: America can compete and win the global economic race, but only if we change our mindset and update many of our policies."
-Senator Mark Warner (D-VA)
"As a long-time analyst of the trends shaping the global economy, I am struck by the increasing number of economic and political leaders that do not grasp how serious the structural economic problems facing America are. I hope they read Innovation Economics. It "speaks truth power" with candor, reason and wit and offers fresh thinking and a path forward."
-Lenny Mendonca, McKinsey Global Institute
"For those of us who believe America's brightest days are ahead of us, Atkinson and Ezell offer important insights about how we can insure that innovation is at the core of our country's progress."
-Jack Markell, Governor of Delaware
"In today's highly competitive global economy, innovation matters more than ever to a country's standard of living. But as Atkinson and Ezell so persuasively argue, this is a race in which the U.S. is falling behind . . . With Innovation Economics, Atkinson and Ezell have sounded an important wake up call."
-Gary Pisano, Harvard Business School