雅思课外阅读：the-Innovation-of-Ameirica

雅思课外阅读：theInnovationofAmeirica

Stillfullofideas,butnotmakingjobs

Americaneedstosharethebenefitsofinnovationmorewidely

THEeconomyisrecovering,yetAmericanconfidenceremainsmiredatlevelsmorecommonlyseeninrecessions.Forthatblameunemployment,petrolpricesandadeeper,naggingfeelingthatAmericaisindecline.AGalluppollinFebruaryaskedAmericanstonametheworld’sleadingeconomicpower.Byasignificantmargin,theysaidChina.

BarackObamahasexploitedthisanxiety.America,hehassaid,facesanew“Sputnikmoment”andmust“competeforthejobsandindustriesofourtime”byspendingmoreonresearch,educationandinfrastructure.ButthenotionthatAmericaisonthevergeofbeingvanquishedbycleverer,moreinnovativecompetitorsisflawed.First,competitivenessisawoollyconceptthatwronglysupposescountries,likefootballteams,winonlywhenanotherteamloses.Butonecountry’seconomicgrowthdoesnotsubtractfromanother’s.Second,America’sabilitytoinnovateandraiseproductivityremainsreasonablyhealthy.Theproblemisthatthebenefitsofthatinnovationandproductivityhavebecomesonarrowlyconcentratedthatworkers’medianwageshavestagnated.

TowardstheendofthelastdecadeAmericanproductivitybegantoslump,asigntosomethatthepay-offfromnewinformationtechnologyhadlargelybeenexhausted.Butcomingoutoftherecessionproductivitysurged;itroseby3.9%lastyear,thefastestratesince2022.Thiswaslargelycyclical,sincebusinessoutputhasrecoveredmorequicklythanhiring.Long-termproductivitygrowthwillbemoremodest,anditsratewilldependoninvestment,humancapitalandinnovation.

Aftercollapsingduringtherecession,investmentinbusinessequipmenthasbouncedback,rising17%inthelastquarterof2022fromthefigureayearearlier.Humancapitalismoreofachallenge.Americansonceledtheworldineducationalattainment,butthisisnowbarelyrisingwhileothercountrieshavecaughtup(seearticle).ThatisakeyreasonwhyDaleJorgenson,aneconomistatHarvardUniversity,reckonsoverallproductivitygrowthwillaverage1.5%inthecomingdecade,downfrom2%intheprevioustwo.

InnovationiswhatpreoccupiesMrObama.Heworriesthatthenextbreakthroughsinenergy,transportandinformationtechnologywilloccurelsewhere.HisadvisersfretthatfederalresearchanddevelopmenthasfallensharplysincetheSputnikera.ButthepictureismoreencouragingonceprivateR&Disincluded.In2022,themostrecentyearforwhichdataareavailable,totalR&Dwas2.8%ofGDP,nearthetopofitshistoricalrange(seechart).Americanpatentapplicationstailedoffduringtherecession,butonlyafterdoublinginthedecadebefore.

RobAtkinson,presidentoftheInformationTechnologyandInnovationFoundation,athink-tankbackedbythetechnologyindustry,acknowledgesthatAmericastartsfromanimpressivelevel,butsaysothercountriesarecatchingupastheirgrowthinR&Dandthenumberoftheirscientistsandengineersgraduallyapproaches,orovertakes,America’s.ChinahasdoubledtheshareofitsGDPdevotedtoR&D,althoughitremainsbelowAmerica’s.In2022AmericansfiledsixtimesasmanypatentapplicationsasChineseresidentsdid.By2022,however,ChinahadsurpassedtheAmericantotal.

AmericancompanieshavebeguntobuildmoreR&Dfacilitiesinemergingcountries,bothinresponsetolocalgovernmentpressureandtobeclosertocustomers.GeneralElectric,whichalreadyhasresearchcentresinChina,IndiaandGermany,announcedlastyearthatitwouldputoneinBrazil.This,itsays,hasnotcomeatAmerica’sexpense:GEplanstoaddtwomoreresearchcentresintheUnitedStatestotheoneitrunsinupstateNewYork.MarkLittle,theheadofGEGlobalResearch,thecompany’sin-houseresearchdivision,saysputtingscientistsandresearchersintoothercountriesenablesGEtocomeupwithproductsitwouldnothavethoughtofbefore.ForruralChinesehospitals,moreusedtodoingthingsmanuallythaninAmericaandEurope,GEdesignedless-automatedMRImachines.

AdamSegal,authorof“Advantage:HowAmericanInnovationcanOvercometheAsianChallenge”,saysAsia’sthreattoAmericantechnologicalleadershipisoverstated.China’sresearchoutputissoaring,butmuchofitispoor-qualityorbasedonplagiarism.Chinesecompaniesareseizingmarketshareinsolarpanelsandwindturbineslargelybecauseoflowmanufacturingwages,saysMrSegal:“Theyhavemadenomajorbreakthroughsinanyoftheunderlyingtechnologies.”R&DspendinginIndiaisminuscule.

TherealproblemforAmericaisnotitsinnovativecapacity,butthefactthatitsbenefitsgotorelativelyfew.ThisisillustratedbyarecentpaperbyMichaelSpenceandSandileHlatshwayo,bothofNewYorkUniversity.Theydividedjobsamongtradableandnon-tradablesectors.Tradablesectorsincludemanufacturing,commoditiesandservicessuchasfinanceandengineeringthatcompeteglobally.Value-addedperperson,aproxyforproductivity,rosesharplyinthissector,butthenumberofjobsactuallydeclinedbetween2022and2022.Theoppositewastrueinthenon-tradableservicessuchasgovernmentandhealthcare.Thererealvalue-addedroseonlysluggishly,butemploymentexpandedsignificantly.Behindthis,saysMrSpence,isthetrendofAmericanmultinationalstokeepthehighestvalue-addedactivitiesathomewhileshiftinglowervalue-addedactivities,suchasmanufacturing,abroad.

Qualcomm,adeveloperofmobile-phonechipsandtechnologybasedinSanDiego,earnsroughly40%ofitsrevenuefromlicensingandroyaltyfeesfortechnologydevelopedprimarilyinAmerica,wherethree-quartersofitsemployeeswork.Lastyearitspent$2.5billion,orroughly20%ofrevenue,onR&DforsuchprojectsasdevelopingMirasol,aneasy-to-read,energy-efficientphonedisplay.PaulJacobs,thecompany’sboss,complainsabouthighcorporate-taxratesandthedifficultyofgettingimmigrantvisasforforeign-bornengineersandscientists,butmaintainsthatAmericaisnotabouttobesupersededasacentreforinnovation.InCaliforniaQualcommhasaccesstothebestcollegegraduatesandapoolofideasandrecruitsgeneratedbyanexusofestablishedan