Do We Overrate Basic Research?

New York Times Article by Steve Lohr talkes about Obama emphasizing a need to maintain a technology leadership in the world and use government funds to get going.

Acccording to Amar Bhide, a professor at the Columbia Business School. In a new book, “The Venturesome Economy,” “hidé makes a detailed argument that contradicts the prevailing view of expert panels and authors who contend that the nation’s prosperity is threatened by the technological rise of China and India, and that America’s capacity for innovation is eroding.” He does not believe government spending on research, are sorely needed.
“America’s competitive advantage, Mr. Bhidé explains, resides mainly in its creative use of information technology, especially in the large and growing services sector, led by companies like Wal-Mart.”
As long as technology is global we all benefit Bhide said. Technology is not to the key to economic growth. So instead of tilting policy toward the apex of the education system, Mr. Bhidé suggests, it may make more sense to invest scarce government resources further down — say, in upgrading community college programs. “The modern information technology economy is going to need a lot of foot soldiers,” he said.
I think it comes back to the idea that all of us need to be involved in something innovative in our lives and the little things will add up.

-Adam Meyn