In his 1989 classic The Rise and Fall of the Great Powers Paul Kennedy wrote: “To be a Great Power—by definition, a state capable of holding its own against any other nation—demands a flourishing economic base.”
By that definition, the U.S. faces significant challenges and is at risk of losing its 75-year great power status. If the U.S. is to stay ahead of China militarily and technologically, it will need to put in place a new national innovation (and production) system, because the current one, including the defense industrial base, suffers from serious shortcomings. Now facing a multi-decade, great power conflict with China, it’s time for the establishment of a revised and renewed U.S. national innovation system that supports both defense and commercial innovation and production.
Please join ITIF for a discussion of the health of the current U.S. innovation and production system, including the defense industrial base, and what the new administration and Congress should do to strengthen it.