Investment in new-capital machinery, equipment and software is the primary means through which innovation spreads throughout the economy.
As these innovations -- whether they are new PCs with touch screens and solid-state drives or new cotton harvesters with microwave sensors and wireless data communication capabilities -- diffuse through industries, they raise productivity, lower costs of production and improve the competitiveness of the American economy as a whole.
Image Courtesy of Stuart Miles / FreeDigitalPhotos.net
