If innovation and inventiveness are the qualities which drive America to become the largest economy in the world, perhaps the same qualities will put the U.S. out of its multiyear decline, one in which both housing and real income have slipped substantially. That is the case Ben Bernanke, chief of the Fed, made recently.
Bernanke’s argument could be that the education of young Americans, particularly in math and the sciences, is not adequate to keep the U.S. in the innovation race. The superior educational attainment of children in Asia and parts of Europe will chip away at the American lead in creating the products which will drive the global economy in the decades ahead.
To read the full, original article click on this link: Bernanke Argues Innovation Could Salvage U.S. Economy - 24/7 Wall St.
