The article states, “The U.S., the economy at the center of the turmoil, is dragging down world growth. On Wednesday, Federal Reserve Chairman Ben Bernanke gave his most pessimistic assessment to date of the U.S. economy's outlook, strongly suggesting that a recession is likely. In testimony before Congress, he also said the Fed projects slower global growth over the coming quarters.”
America's global role in the next decade may depend upon whether the incoming President and Congress can come to grips with the new global economic freight train coming full speed towards the U. S. called "innovation economics".
The Capital Formation Institute, a DC-based non-profit focused on building the US entrepreneurial economy, advises that politics as usual and the reliance on traditional economic development strategies are inadequate remedies.
“Can government at all levels learn from clear signals about the future of the global economy and support innovation strategies to help America stay in front of potential innovation super powers developing in Asia, Canada, South America and Europe?” asks Dan Loague, the Executive Director of CFI.
Loague advocates a greater reliance on private sector initiatives that aim at creating a massive increase in the birth rate and success of new high technology ventures.
CFI's April 10, 2008, National Roundtable on Innovation Economics, a national discussion roundtable, will touch on the issues critical in helping communities and regions become high growth economies.
“We do not have the right tools in place or the right people at the table to make the successful transition to the new global imperative of innovation economics,” said Loague, “and we are attempting to ignite a national dialogue in this presidential year to focus attention on the structural economic problems in America.”
“We need to address America’s economic innovation problems now, before global competitor’s gain a technological innovation advantage that we can not overcome,” he added.
CFI’s innovation economics teleconference starts at 2:00 PM Eastern, Thursday, April 10, 2008. Pre-registration to participate is at http://www.cfi-
About the Capital Formation Institute: The mission of the Capital Formation Institute (CFI) is to become the premier international research and educational entity in the fields of early stage capital financing and enterprise creation and growth. This mission will be accomplished by sponsoring and conducting leading edge research projects, by recruiting researchers, by soliciting program and project funding support from both public and private sources, and by organizing and conducting educational conferences, seminars, and workshops in the U.S. and worldwide (based upon this research).
About the Institute For Open Economic Networks: I-Open accelerates innovation and economic transformation in local and regional economies. Our approach is founded on open source development, an effective innovation engine developed in the software industry. Open source development is based on voluntary communities of people contributing to common (often complex) projects.
http://www.i-
About The Private Capital Market,® Inc. The Private Capital Market is a web-based, global due diligence platform that allows private companies to conduct private pass-word protected due diligence business with global sources of capital. The platform was created based upon research findings described in Predicting Technology, that local sources of venture capital needed better methods to connect with global sources of capital to fund new local high tech ventures.
www.privatecapitalmarket.com and www.industrialclusterexperts.com
