Observers have long pointed to the United States as a shining example
of entrepreneurship and innovation. In 2006, the Economist
magazine gushed, “No country has mastered innovation and
entrepreneurship as effectively as America.”
Perhaps that was once true, but it’s not anymore.
In a speech introducing the President’s new National Advisory Council on Innovation and Entrepreneurship, Secretary of Commerce Gary Locke said, “America’s innovation engine is not as efficient or as effective as it needs to be, and we are not creating as many jobs as we should.”
Recent data suggests that Secretary Locke is right. A study by the Information Technology and Innovation Foundation looked at the progress at innovation that 40 countries made over the past decade. The U.S. came in dead last. That is, whether they were ahead or behind us at innovation in 1999, the 39 other countries examined gained ground on us over the past ten years.
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Author: Scott Shane
