As we’ve repeatedly said, innovation creates jobs, not destroys them. But we’ve also recently pointed out that government has been lagging private sector spending on R&D, and that’s one reason why productivity growth and job creation has been weak. Moreover, PPI’s Will Marshall recently wrote that the Democrats have to resolve their economic identity crisis.
So it was good news when in today’s speech in Michigan, Hillary Clinton said:
And we’re going to … recommit to scientific research that can create entire new industries.
She’s been getting increasingly powerful on this point. On her website, her “Jobs Plan for Millennials” contains the paragraph (our bold):
Support scientific research and technological innovation. We must ensure that America remains at the forefront of scientific and technological innovation in the 21st century. We will make bold new investments in scientific research, which will create entirely new industries and the good-paying jobs of the future. Together, we can achieve bold research goals, like preventing, effectively treating, and making an Alzheimer’s cure possible by 2025. And we will pursue public policies that spur technological innovation and support young entrepreneurs. Hillary believes that by supporting young entrepreneurs in all types of communities, we can catalyze innovation hubs across the country, encourage millennial talent and capital to invest in their communities, and build thriving local economies.
By contrast, a Google search of Trump’s website shows no appearances of the term “scientific research.” The outline of Trump’s economic vision on his website does not contain the words ‘technology’ or ‘innovation’. We wonder if Trump understands that his favorite outlet, Twitter, was only invented in 2006.