Technology is a cornerstone of American prosperity, the primary source of our economic competitiveness, and a constant presence in our everyday lives. From the 19th century's advances in manufacturing and transportation to today's cutting-edge developments in biotechnology and computer science, Americans have been world leaders in creating, producing, and deploying innovative technology. Nobel Laureate Robert Solow's classic 1956 study in The Economic Record demonstrated that technological progress drove at least 80% of economic growth in the United States between 1909 to 1949, and innovation continues to be the most powerful engine of our prosperity.
Today, President Obama and the new Congress face a historic opportunity to promote new technology innovation, particularly in the clean energy sector. Innovation is essential to driving down the price of clean energy technologies, which is a prerequisite to achieving mass commercialization and a rapid transformation of the global energy system. But to harness this solution we must take a new look at the process of innovation and determine the best mechanisms for public policy to catalyze and accelerate technology development.
The Breakthrough Institute is committed to fostering a discussion on these questions and is therefore hosting a "Special Innovation Issue" on our website to feature contributions from some of the country's top innovation experts, exploring the role of innovation policy and how public policy can best promote innovation. Stay tuned.
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