While Members of Congress and presidential candidates have been busy beating each other up over whether millionaires are job creators or job destroyers, they have lost sight of who really spurs America’s economic growth. It’s not the fat cats on Wall Street. It’s the smart cats in the research laboratories.
Last year’s budget gridlock gave the smart cats little confidence that lawmakers understood the fragile nature of the scientific enterprise. And if the second session of the 112th Congress is simply a rerun of last year’s horror show, the uncertainties it will create could easily cause our nation’s innovation engine to sputter badly.
To be successful, scientists require patient capital and dependable policies. And for more than half a century, America provided those essentials. In return, science provided America with jobs and wealth.
Economists estimate that since the end of World War II, more than 50 percent of our nation’s gross domestic product increase has stemmed from science, technology, engineering and mathematics. Today, they say, STEM is the driver of 70 percent of our nation’s economic growth.
Until recently, we were the lion in the global research kingdom. We led the world in scientific discovery and innovation. We had the brains, the money and the political will to keep us at the cutting edge. But the rest of the world has been catching up, and there are signs we are now being overtaken.
Three independent assessments released last year — “The Global Innovation Index,” a joint international study led by INSEAD, an international graduate business school; “The Atlantic Century II,” a survey by the Information Technology and Innovation Foundation; and the “Global Competitiveness Report,” an annual study by the World Economic Forum — document our fall from the top. They rank us between fourth and ninth in innovation. And the ITIF assessment ranks us next to last in innovation gains among 44 leading nations.
Seven years ago, New York Times columnist Thomas Friedman punctured America’s psyche of exceptionalism when he wrote “The World is Flat: A Brief History of the Twenty-First Century.” Friedman illustrated how globalization, driven by technological advances, had snapped America’s reins over the world’s economy.
The world Friedman encountered on his travels around the globe was vastly different from the world Tom Brokaw had described in “The Greatest Generation.”
In a 2011 sequel, “That Used to Be Us,” which he co-authored with Michael Mandelbaum, Friedman described how the world we invented had overtaken us. He gave literary voice to the stark data the innovation assessments provide.
Friedman and Mandelbaum’s message is simple: America, we have a problem.
That warning should not be news to Congress or the White House. Norman Augustine, retired CEO of Lockheed Martin, has been sounding the same alarm for more than a decade. And although legislators responded to the National Academies report, “Rising Above the Gathering Storm” — which Augustine led — by passing the America Competes Act in 2005, the bill’s authorizations gave rise to false hopes.
The bipartisan legislation provided a compelling economic rationale and an aggressive road map for doubling the budgets of three key science agencies: the Department of Energy’s Office of Science, the National Institute of Standards and Technology’s Core Program and the National Science Foundation.
Rep. Eric Swalwell, D-Calif., walks on Broadway after a Future Forum with young entrepreneurs in the Flatiron District of New York City, April 16, 2015. Reps. Steve Israel, D-N.Y., Seth Moulton, D-Mass., and Grace Meng, D-N.Y., also attended.