In Innovation, U.S. Said to Be Losing Competitive Edge – Canada Ranks 16th out of 40

The competitive edge of the United States economy has eroded sharply
over the last decade, according to a new study by a nonpartisan
research group.

The report by the Information Technology and Innovation Foundation
found that the United States ranked sixth among 40 countries and
regions, based on 16 indicators of innovation and competitiveness. They
included venture capital investment, scientific researchers, spending
on research and educational achievement.

But the American economy
placed last in terms of progress made over the last decade. “The trend
is very troubling,” said Robert D. Atkinson, president of the
foundation.

Measuring national competitiveness and the capacity
for innovation is tricky. Definitions and methods differ, and so do the
outcomes. For example, the World Economic Forum’s recent global competitiveness report ranked the United States first. Much of the forum’s report is based on opinion surveys.

A
report last year by the Rand Corporation concluded that the United
States was in “no imminent danger” of losing its competitive advantage
in science and technology.

The new report, published on
Wednesday, offers a more pessimistic portrait. Its assessment is in
line with a landmark study in late 2005, “Rising Above the Gathering
Storm,” by the National Academies, the nation’s leading science
advisory group. It warned that America’s lead in science and technology
was “eroding at a time when many other nations are gathering strength.”

Read more . . .

ITIF uses 16 indicators to assess the global
innovation-based competitiveness of 36 countries and 4 regions. This
report finds that while the U.S. still leads the EU in innovation-based
competitiveness, it ranks sixth overall. Moreover, the U.S. ranks last
in progress toward the new knowledge-based innovation economy over the
last decade.  Canada ranks 16th in innovation-based competitiveness but a dismal 34th out of 40 in progress toward the new knowledge-based innovation economy.

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Tags: american economy, global competitiveness report, global innovation, imminent danger, Innovation, innovation economy, national competitiveness, rising above the gathering storm, science advisory group, venture capital investment, world economic forum

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