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Last week was a busy one for the President’s Council of Advisors on Science & Technology, an advisory group of the nation’s leading scientists and engineers who make policy recommendations “where understanding of science, technology and innovation is key to strengthening our economy.” In two separate reports, PCAST explored approaches to meet the sky-rocketing demand for wireless broadband as well as the necessary steps to provide long-term U.S. leadership in advanced manufacturing.
Each day, Innovation Daily checks the pulse of global innovation-- courtesy of Innovation America. Here, we take a look at a handful of relevant stories it compiled last week:
Last week, Fed Chairman Ben Bernanke gave a sobering review of the U.S. economy. This week, a number of Congressional hearings continue to address the underlying issues--like the impact of Dodd-Frank and the 10th anniversary of Sarbanes-Oxley--as well as the potential in cloud computing and commercializing research from the international space station.
Each quarter, the Chamber tracks the outlook of entrepreneurs and small business owners on their businesses, the local economy and the U.S. economy. In the latest survey, overwhelmingly, they think the national economy is not headed in the right direction. However, the numbers improve as the focus narrows to the local economy (47% said it was on the right track) and their own business (68%). Unfortunately, that may not translate to more jobs though as only 20% thought they would add employees in the year ahead.
From an outsider perspective, Belgium has a very diverse economy with dozens of influences coming together at its prime location in the heart of the EU. Being the home to several major European universities, and a mix of service-based economy in the north and industrial-based in the south, Belgium has a diverse market structure that keeps it competitive and one of the highest income per capita economies in the world. However, when it comes to entrepreneurship, Belgium is not thriving.
As elections approach and there is a lot of debate on which is the best road to a robust economy with more jobs, policymakers should take time to listen to the message of the just-released Kaufman Foundation videos on the benefits of high-skilled immigration. With Washington being unwilling to separate the obviously different issues of high-skilled immigration and how to handle illegal immigrants, a net job gain strategy remains hostage to politics as usual in the nation’s capitol.
Fed Chairman Ben Bernanke makes a couple of appearances on Capitol Hill this week to talk about monetary policy and the U.S. economy. Tuesday, Bernanke appears before the Senate Committee on Banking, Housing and Urban Affairs while on Wednesday he addresses the House Committee on Financial Services. Other hearings scheduled include: how mobile apps are moving the economy; a look at the impact of Dodd-Frank on small business; regulatory impediments to job creation and others.
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