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Innovation Economics: The Race for Global Advantage Hardcover – September 4, 2012
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About the Author
Stephen J. Ezell is senior analyst at ITIF.
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Top Customer Reviews
If the U.S. does not want to follow in the footsteps of the United Kingdom, it needs to acknowledge the gravity of the situation and acts decisively and boldly before it is too late (pp. 31-32; 62; 85-127; 162-163; 234; 250; 252; 263). Therefore, Messrs. Atkinson and Ezell call for a new Washington Economic Consensus based on the following ten principles:
1. Although the U.S. still has important strengths in sectors such as advanced aerospace and medical devices, it is no longer leading in innovation-based competitiveness. Think for example about the fast declining manufacturing sector, the more rapid growth of R&D overseas, or the relative decline in the number of scientists and engineers. This decline is expected to continue unless business, labor, academia, and the government work together (pp. 9; 17; 25; 34-46; 49-54; 59; 82; 89; 95; 97; 103; 109-124; 181-187; 227; 233; 236-237; 312).
2.Read more ›
The book disused on how the US stumbled into the great recession (2007-2009) and went on to explain how the US is no longer the global innovation leader (and how England declined as well).
The authors went on and warned that the global race for innovation is current under way, and unless the US government implements public policies to embrace innovation and the current mindset, we may lower our standard of living (they provide a powerful case in support of increasing R & D initiatives to support innovation).
After discussing the challenges, the authors lays out a plan (if successful) could regain its global advantages in the next 10 years.
The book was 440 pages, but was a quick read. The book was jammed with fresh ideas and relates greatly to what is currently happening in the US and is a MUST READ for anyone interested in innovation or economics in general.
There is no attention to details in the book. (1) They put Korea and Taiwan into South-east Asia. Why not talk about East-Asian countries instead? (2) The refer to one survey item to decide whether the government is too big. Sorry but is that the best data you could find? They note that the survey item is probably influenced by the amount of government each country has, but then they proceed not to heed their own warning. The Chinese wants more government and that does not fit with their conclusion so it is not commented on. (3) They note that Italy boomed in the 50s and 60s, but that the UK almost crashed. Hello, do the authors know anything about post-war Europe? Both countries boomed. In any case they do not proceed with an argument. It was just a fact thrown in. The book goes on and on like this without any attention to details. Somebody might say that I am nitpicking and I am. However, the writing comes across as so bad that it annoys me. So what about the important big ideas in the book?
The big picture is also sloppy. There is hardly any reference to research. Instead we get references to other popular books about the economy, think Harvard Business Review Press style of books. There is so much good (of course also bad) research out there. I can only conclude that the authors are not familiar with the literature.Read more ›
Atkinson is the President and Ezell a senior analyst at the Information Technology and Innovation Foundation, which has produced much of the best policy research on competiveness over the last decade. They believe that most observers are underestimating the erosion of America's advantages in global trade. Until recently, much of this failure was covered up by our strong performance in a few computing industries and by the growth of debt-fueled consumption. Meanwhile the social and physical infrastructure supporting U.S. companies was not being replenished, leading to the decline of most manufacturing industries. Unlike conservatives, they believe that the competitiveness of American companies is strongly linked to the overall economic infrastructure and that this infrastructure requires sound government policies to encourage it because companies do not have an incentive to create it themselves.
But Innovation Economics is also careful to warn against the dangers of heavy government intervention.Read more ›
Most Recent Customer Reviews
Excellent book for anyone who wants to understand macroeconomics and what really drives economic growth. Economics grounded in reality... who'd have thunk it?Published 9 days ago by Amazon Customer
Rob Atkinson and Steve Ezell have performed a real service - their book actually is a "must read" for policymakers. Read morePublished on November 4, 2012 by William B. Bonvillian, co-author of "Structuring an Energy Technology Revolution"
For Atkinson and Ezell, the effective commercialization of innovation is the key to long-run prosperity and national strength. Read morePublished on November 2, 2012 by Kent H. Hughes
Few analysts have tracked America's economic decline so incisively as Rob Atkinson.
For nearly two decades, Atkinson and his colleagues have systematically chonicled how... Read more