Infrastructure has always been important to U.S. economic growth and success, and that will continue to be true in the 21st century as more and more of the economy goes digital. But with rapid advances in information technology, the infrastructure itself also must evolve. Some new infrastructure will need to be hybridized, integrating both physical and digital features and capabilities, while some will be purely digital. But make no mistake: The country’s future growth prospects will hinge in no small part on whether it successfully builds out all of these new infrastructure systems.
There has been increasing concern in recent years about the purported rise of “digital protectionism,” when countries implement policies that limit digital trade such as requiring data on their citizens to be stored within their borders or censoring certain online content. While some argue these policies hurt digital trade and commerce, others contend they are
Value chains stitch together the global economy, producing myriad benefits along the way for companies, industries, and nations. Few industries illustrate this as vividly as the semiconductor business, which has evolved from a vertically integrated model into a highly specialized, globally dispersed manufacturing supply chain that spurs innovation by producing ever-more powerful computer chips at steadily lower cost.
Fintech, short for financial technology, describes the trend of using of innovative technology to disrupt traditional financial institutions by creating new ways of making payments, managing wealth, issuing loans, providing insurance, and managing currency. While many Silicon Valley fintech startups have received significant media coverage, at the heart of this revolution are some of the financial industry’s most familiar names.
The future of America’s economic competitiveness and its national security depends on the strength of its manufacturing industrial base, which in turn depends on our nation’s ability to produce a highly skilled engineering workforce. Unfortunately, industrially relevant manufacturing training is rarely a priority at U.S. universities. Increasing focus on “engineering as a science” has moved university engineering education away from real-world problem solving.
Productivity is the most important driver of economic welfare. Unfortunately, on this measure, the United States is in trouble. Since the end of the Great Recession, U.S. productivity growth has sagged to its lowest level since the late 1940s. And productivity will likely continue to lag in the absence of a comprehensive national productivity policy. Conventional wisdom holds there is little policymakers can do to raise productivity—but conventional wisdom is wrong.
Checking the Innovation Box: How Lower Taxes on IP-Based Activities Could Boost U.S. Competitiveness
Please join ITIF for an expert panel discussion on how specialized tax incentives for innovative products and services could make the U.S. economy more competitive.
High-performance computing (HPC)—which leverages “supercomputers” and massively parallel processing techniques to solve complex computational problems through computer modeling, simulation, and data analysis techniques—represents a strategic, game-changing technology with tremendous economic competitiveness, science leadership, and national security implications for the United States. But as competitor countries dramatically increase their investments in HPC systems and technologies, future U.S. leadership in HPC is no longer assured.
The Center for Data Innovation and the Data Coalition hosted a panel discussion about the future of open government data in the United States.
Open data—data that is made freely available to use without restrictions—serves as a platform for innovation in the public and private sectors that supports $1.1 trillion in annual economic value, helps solve some of the country’s most pressing social challenges, and introduces unprecedented levels of transparency to government operations.
Every day, Internet users generate millions of new posts on blogs, social networks, and e-commerce platforms to share their opinions and feedback with others. However, some individuals have found their rights under assault as they are threatened with meritless lawsuits introduced for the sole purpose of silencing their voices.