Innovation is far more than invention; it is the creation, implementation, and marketing of new processes, products, and services. Innovation contributes to productivity, economic growth, social benefits, and capacity for future innovation and growth. A wide range of policies are needed to support innovation, since successful innovation depends on people, investment, infrastructure, markets, and freedom to create and act. These many factors and lag times means that innovation policy must take a long-term perspective.

CCIA’s View:

Encouraging innovation should be a paramount policy goal in all policy domains, not just those that are traditionally linked to it, such as the funding of basic research, patents, and technology transfer. Policies should take a long-term view attuned to future innovators, rather than rewarding past innovators. The former are likely to be underrepresented, while the latter have usually reaped the benefits of innovation and are able to make their needs heard. Policies should recognize that innovation practices and patterns vary widely – especially across different industries – and that digital technology is playing a major role in enabling new forms of innovation.

 

Most Recent Statements:

Immigration and Entrepreneurship Discussed at AEI Book Forum

The American Enterprise Institute’s book forum titled “Better Capitalism: Reviving America’s Entrepreneurial Engine” today featured Robert E. Litan and Carl J. Schramm, the authors of the book “Better Capitalism: Renewing the Entrepreneurial Strength of the American Economy.”  One of the issues discussed was the need to revamp immigration policies for highly skilled immigrants. As part of a…

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STEM Visas, Education Raised In Presidential Debate

During the second presidential debate last night in New York both President Obama and Gov. Romney agreed on the need for immigration reform. Romney said green cards should be stapled to the diplomas of foreign students with advanced degrees in science and math. Obama noted the role of immigrants in starting some of the most prominent, innovative…

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Brookings Panel on "Fostering Internet Competition"

Brookings Panel on “Fostering Internet Competition “The Brookings Institute held a panel discussionWednesday on “Fostering Internet Competition” to highlight a new Brookings paper “How to Maintain a Competitive Internet.” Darrell West, who moderated the discussion, wrote that by 2016 analysts estimate the digital economy will amount to $4.2 trillion among G-20 nations – nearly double the…

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