We can see it reflected in our search trends at Google: Too many people are out of work, and the fear of unemployment is changing the behavior of millions more. In the fall, searches related to back-to-school shopping and holiday travel bookings peaked weeks later than usual, as families put off spending as long as possible. At the same time, queries for payday loans have gone up a third in the past two years.
To spur job creation and alleviate the fear of unemployment, the United States will need to tackle what Commerce Secretary Gary Locke has called our "innovation deficit." We have been world leaders in innovation for generations. It has driven our economy, employment growth and our rising prosperity. But much of the cutting-edge research and development in key areas such as renewable energy now takes place outside the United States. There's a real chance that the "green Silicon Valley" will take root in Germany or China. We can't afford to let that happen.
To read the full, original article click on this link: Erasing our innovation deficit - washingtonpost.com
Author: Eric Schmidt
