TECHNOLOGY FOR AMERICA'S ECONOMIC GROWTH: A NEW DIRECTION TO BUILD ECONOMIC STRENGTH

Investing in technology is investing in America's future: a growing economy with more high‐skill, high‐wage jobs for American workers; a cleaner environment where energy efficiency increases profits and reduces pollution; a stronger, more competitive private sector able to maintain U.S. leadership in critical world markets; an educational system where every student is challenged; and an inspired scientific and technological research community focused on ensuring not just our national security but our very quality of life. American technology must move in a new direction to build economic strength and spur economic growth. The traditional federal role in technology development has been limited to support of basic science and mission‐oriented research in the Defense Department NASA, and other agencies. This strategy was appropriate for a previous generation but not for today's profound challenges. We cannot rely on the serendipitous application of defense technology to the private sector. We must aim directly at these new challenges and focus our efforts on the new opportunities before us, recognizing that government can play a key role helping private firms develop and profit from innovations.