Many people in Washington are worried that America’s strength in developing new technology is waning, harming our future competitiveness. While disaster is far from imminent, there is cause for concern.
The United States is far less productive at inventing than Japan, China or Korea. For every dollar spent on R&D, Japan produces more than twice as many technological inventions as we do, China produces nearly three times as many, and Korea produces more than four times our number.
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