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Getting More Bang for Our R&D Bucks

James E Smith

Abstract


While some may want to argue the point, many believe it is innovation and the resulting technology that provides society with the impetus to advance and to provide the greatest value to the members of that social order.  Some would also argue that advanced or advancing technologies provide the fastest way to improve the health, wealth, and well being of the individual. Independent of these arguments, it is clear that innovation, particularly the game-changers, has had an accelerating impact on the development of almost every social order on this planet. It is through the creativeness of the individual, plus the organized efforts of research and development programs that have allowed the fostering of ever-growing numbers of new innovations in every aspect of society: agriculture, medicine, transportation, communication, etc. What may be of particular note is that some of the earlier and most contributive to the innovation race are currently less than effective than they once were, or possibly others are simply out-running them.  The United States, plus several others, was one of the earlier contributors to the technology revolution. By most of the standard global measures it is clear the US has not maintained the edge in technology and innovation that was, for many decades, the beacon to a large portion of the rest of the world. While the US is not the only country that has allowed the innovation gap to slip and in some cases to reverse, it may be very representative of the reason the rest have also slowed their progress.  More importantly, the reasons may have very little to do with capabilities, resources, education, manpower, etc.  It may simply be managed expectations, thus the purpose of this paper.


Keywords


Research; Investment; Development; Global Competitiveness

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IJME introduces peer-review from its first Edition onwards. The researchers submitting their papers for publication should review atleast one technical paper from their domain. The manuscript also undergoes mandatory procedural review with IJMES review and scholar panel.