Technology and the Innovation Economy

Darrell M. West
October 26, 2011

Innovation and entrepreneurship are crucial for long-term economic development . Over the years, America’s well-being has been furthered by science and technology. This paper focuses on ways technology enables innovation and creates economic prosperity. It reviews the range of new advances in education, health care, and communications, and make policy recommendations designed to encourage an innovation economy. By adopting new policies such as a permanent research and development tax credit, more effective university knowledge commercialization, improving STEM worker training, reasonable immigration reform, and regional economic clusters, we can build an innovation economy and sustain long-term prosperity in the United States.

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