Running on fumes: U.S. must invest in new economies through support for education, research - by Shawn Lawrence Otto
In an effort to shore up the failing economy we've now seen the government pump hundreds of billions of taxpayer dollars into corporations in what is either the largest socialization of the free market or the largest raiding of the public trust in history, depending on your perspective. This emergency response may stop the bleeding, but it does little to tackle a major cause: inadequate investment in producing new economies as our old ones mature. As a result, we're running on fumes and debt.
And a 2005 Business Roundtable report projects that by 2010, 90 percent of all scientists and engineers will live in Asia. If that projection turns out to be even close, it represents a major shift in the underpinnings of the American economy.
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