Description

Book Synopsis
Innovation is a central driver of economic growth in the United States. Workers become more productive when they can make use of improved equipment and processes, and consumers benefit when new goods and services become available or when existing ones become better or cheaper although the transition can be disruptive to established firms and workers as new products and processes supersede old ones. Looking ahead, innovation will continue to be important for economic growth, in part because the supply of workers to the economy is expected to increase at a much slower rate in the future. The federal government influences innovation through two broad channels: spending and tax policies, and the legal and regulatory systems. In this book, the Congressional Budget Office (CBO) examines the effects on innovation of existing policies and systems and the possible effects of a variety of proposals for changing those policies and systems. This book also discusses the current status of the research tax credit; the role of trade secrets in innovation policy; and the patent system for specific industries.

Federal Influence on Innovation: Policy Effects &

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    A Hardback by Rachael A Young

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      Publisher: Nova Science Publishers Inc
      Publication Date: Publication Date: 01/04/2015
      ISBN13: 9781634636278, 978-1634636278
      ISBN10: 1634636279
      Also in:
      Economics

      Description

      Book Synopsis
      Innovation is a central driver of economic growth in the United States. Workers become more productive when they can make use of improved equipment and processes, and consumers benefit when new goods and services become available or when existing ones become better or cheaper although the transition can be disruptive to established firms and workers as new products and processes supersede old ones. Looking ahead, innovation will continue to be important for economic growth, in part because the supply of workers to the economy is expected to increase at a much slower rate in the future. The federal government influences innovation through two broad channels: spending and tax policies, and the legal and regulatory systems. In this book, the Congressional Budget Office (CBO) examines the effects on innovation of existing policies and systems and the possible effects of a variety of proposals for changing those policies and systems. This book also discusses the current status of the research tax credit; the role of trade secrets in innovation policy; and the patent system for specific industries.

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