As policymakers consider the value of small business innovation programs, they should understand that their returns on investment are considerably larger than conventional estimates indicate.
Science and R&D
November 25, 2019
Fact of the Week: A 40 Percent Reduction in U.S. Drug Prices Would Lead to as Much as 60 Percent Fewer Novel Compounds Reaching Clinical Testing
Proponents of capping drug prices often dismiss concerns about the impact on pharmaceutical R&D by pointing to the fact that drug prices are much lower internationally than in the United States. But this reasoning fails to consider that price restrictions in other countries have made pharmaceutical companies disproportionately reliant on revenue from the United States.
November 4, 2019
Fact of the Week: Large, Profitable Firms in France Receive Tax Subsidies of 43 Percent on R&D They Perform, Which is More Than 8 Times Greater Than U.S. Subsidies
R&D tax incentives are key to fostering innovation, effectively providing needed public support for research without sacrificing private-sector market incentives. According to a new report by the OECD, the United States is well behind much of the rest of the world in this respect.
October 25, 2019
Stephen Ezell presented about globalization trends and what Europe must do to turbocharge its digital economy at an event hosted by the Spanish think tank Cercle d’ Economia on October 25, 2019.
October 23, 2019
Nearly 25 percent of all R&D expenditures in China come in the form of government subsidies to firms. It would be ideal if China dramatically reduced these innovation subsidies so American workers in innovation industries would face a level playing field, but the chances of that happening are slim to none. It is time for the federal government to step up its game and provide significantly more support for industrial R&D.
October 21, 2019
The United States continues to fall further behind world leaders in funding for university research. To reverse course, it should increase support by $45 billion per year and provide stronger incentives for businesses to increase their investments.
October 18, 2019
ITIF filed comments responding to the Office of Science and Technology Policy’s request for information on the bioeconomy.
October 15, 2019
Fact of the Week: U.S.-Based Scientists Have Published 44 Percent of Recent AI-Related Scientific Articles but Have Been Awarded Only 20 Percent of AI-Related International Patents
Innovation can be approximated across many different metrics, which can present very different impressions of where new technologies are being created and utilized. In a new report, the OECD has analyzed the 2,000 companies that invest the most in R&D for their output related to artificial intelligence.
September 30, 2019
Fact of the Week: Companies 10 Years Ahead of the Curve Advertising Job Openings With New Titles Invest 63 Percent More of Their Revenue Into R&D
As technology changes the nature of jobs, the language we use to describe them changes too. A new study makes use of this phenomenon to analyze a database of 5 million job advertisements that appeared in newspapers from 1940 to 2000, calculating when a job title first came into use.
September 19, 2019
Climate change, pollution, and the economy’s sensitivity to energy prices all make continued environmental innovation a key priority.
September 12, 2019
Why Federal R&D Policy Needs to Prioritize Productivity to Drive Growth and Reduce the Debt-to-GDP Ratio
The federal government should significantly increase spending on research and development that specifically targets technologies likely to boost productivity in order to spur growth and reduce the budget deficit.