Content adapted from this Zerohedge.com article : Source
There was a time when the United States was the envy of the world for the ability to innovate. Many industries sprung out of nothing but an idea.
Today, things are much different. According to the latest global rankings, when it comes to innovation, the United States no longer is in the top 10. This most recent drop finds it sitting in 11th place.
South Korea, a country that was impoverished 50 years ago is the leader for the 5th consecutive year.
Authored by Tom Lewis via GoldTelegraph.com,
Recently, for the first time in six years, the U.S. was not included in top 10 of the 2018 Bloomberg Innovation Index.
This year, the top 10 countries within the index were:
- South Korea
- Sweden
- Singapore
- Germany
- Switzerland
- Japan
- Finland
- Denmark
- France
- Israel
The USA was ranked 11th due to slumping in the post-secondary, or tertiary, education-efficiency category, which includes the share of new science and engineering graduates in the labor force.
Robert D. Atkinson, the president of the Information Technology & Innovation Foundation said to Bloomberg,
I see no evidence to suggest that this trend will not continue, other nations have responded with smart, well-funded innovation policies like better R&D tax incentives, more government funding for research, more funding for technology commercialization initiatives."
All the while the United States is cutting back on these programs.
Non-adapted content found at zerohedge.com: Source
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