Today, the Innovation Frontier Project (IFP), a project of the Progressive Policy Institute, released a comprehensive research deck on the threats facing American innovation. The authors of the deck, innovation experts Ashish Arora and Sharon Belenzon of Duke University, found the United States has lost a substantial amount of corporate research since the 1980s, with only a handful of present-day U.S.-based companies investing in research at a meaningful level.
This deck also lays out clear political implications for lawmakers. The Biden Administration’s top strategic economic priorities are based on a foundation of strong U.S. competitiveness and innovation, yet Congress’s percolating anti-tech antitrust legislation would undermine these priorities by impairing the ability of America’s few leading R&D performers to develop new products and enter new markets. The restrictions on these companies will reduce our national investment in R&D and hurt American economic prosperity and national security.
“America’s technological leadership is being challenged, and if we undermine our business research leaders we risk losing this fight with China. The Biden Administration has identified key priorities in emerging technologies, but Congress’s anti-tech antitrust legislation would hurt these priorities. Our policymakers need to get smart about the steps needed to regain our footing as a technological leader,” said Dr. Michael Mandel, Chief Economist for the Progressive Policy Institute.
The deck findings issue a stark warning:
View the full 67-page deck here:
This deck was authored by Ashish Arora and Sharon Belenzon of Duke University. Mr. Arora is the Rex D. Adams Professor of Business Administration at the Duke Fuqua School of Business. He received his PhD in Economics from Stanford University in 1992, and was on the faculty at the Heinz School, Carnegie Mellon University, where he held the H. John Heinz Professorship, until 2009. Mr. Belenzon is a professor in the Strategy area at the Fuqua School of Business of Duke University and a Research Associate at the National Bureau of Economic Research (NBER). His research investigates the role of business in advancing science and has been featured in top academic journals, such as Management Science, Strategic Management Journal and American Economic Review. Mr. Belenzon received his PhD from the London School of Economics and Political Science and completed post-doctorate work at the University of Oxford, Nuffield College.
Based in Washington, D.C., and housed in the Progressive Policy Institute, the Innovation Frontier Project explores the role of public policy in science, technology and innovation. The project is managed by Jack Karsten. Learn more about IFP by visiting innovationfrontier.org.
The Progressive Policy Institute (PPI) is a catalyst for policy innovation and political reform based in Washington, D.C. Its mission is to create radically pragmatic ideas for moving America beyond ideological and partisan deadlock. Learn more about PPI by visiting progressivepolicy.org.
###
