To solve its big economic problems, the United States needs to think small.
It is a well-worn observation that technological innovation leads to economic growth. But ever since Sputnik, the U.S. government has primarily focused on funding innovation via large universities and research institutions. This funding is not insignificant -- $143 billion in fiscal 2011, according to the National Science Foundation. Unfortunately, government grants focused on fostering novel technologies are cumbersome to apply for and incur mountains of paperwork once you get them. Small-scale innovation is nonetheless alive and well -- and will likely lead the recovery, whenever it happens.
To read the full, original article click on this link: How to Save the Global Economy: Think Small - by Vivek Wadhwa | Foreign Policy
