by RobeRt D. Atkinson AnD DAviD b. AuDRetsch | …

The InformaTIon Technology & InnovaTIon foundaTIonITIFThe InformationTechnology& InnovationFoundationPolicymakers and economic scholars around the world agree that the primary source of economic growth, competitiveness, and increases in standards of living in a globalized economy is innovation in the form of new products and services, more efficient production processes, and new business Moreover, as oil and food prices escalate, the need for innovation across the economy becomes even more pressing. Yet even in an election year when both presidential candidates in the United States are confronted with a trou-bled economy, the current political dialogue is giving scant atten-tion to innovation and policies to promote innovative activity. Innovation policy has gotten short shrift in the political dialogue largely be-cause the three dominant economic pol-icy models advocated by most economic advisors and implicitly held by most Washington policymakers ignore the role innovation and technology play in achieving economic growth in the glob-al, knowledge-based economy of the 21st century.

The informaTion Technology & nnovai Tion foundaTion | sep Tember 2008 pAge 3 The United States needs an economic framework that supports the new economy – and innovation econom-

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