Is The U.S. Really Losing Its Innovative Edge?

Guest post written by Gerard J. Tellis

Gerard J. Tellis is Neely Chair of American Enterprise, Director of the Center for Global Innovation, and Professor of Marketing, Management and Organization at the USC Marshall School of Business. His forthcoming book is Unrelenting Innovation: How to Create a Culture of Market Dominance.

Gerard J. Tellis

Innovation is critical for the improvement in consumer living standards, the growth and success of firms, and the wealth of nations. In the late 19th and early 20th centuries, the U.S. surpassed Great Britain as the world’s premier economy on the strength of its innovations. These innovations spanned a wide spectrum of industries. Innovations flourished in a variety of heavy industries such as aeronautics, automobiles, defense, communications, electricity and power generation. Innovations likewise blossomed in consumer goods and services such as soap, photography, shaving and entertainment. The U.S. also pioneered innovations in university education, land ownership, home ownership and individual rights. The U.S. lead in innovation lasted through most of the 20th century.

 

 

Is the U.S. now losing its edge in innovation?

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