Posted by: Michael Mandel on January 18
While everyone is kvetching about recession today, the Commerce Department will be talking about the future. This morning it willbe releasing a new report about how to revamp the economic statistics to better measure innovation. I write about the new report here:
The report—assembled by a panel of top academics and business leaders, including Samuel J. Palmisano of IBM (IBM) and Steven A. Ballmer of Microsoft (MSFT)—observes that innovation is key for growth and competitiveness. But it gets short shrift in government data.
The panel makes aggressive proposals for measuring innovation better. Some are important but mundane, such as getting different statistical agencies to share data. Others are high-concept, including tracking “innovation inputs,” improving the measurement of intangible assets, and possibly putting together a “national innovation index.”
Added: Here’s a piece from marketplace radio on the report.
Added: Here’s a link to the full version of the report.
Michael Mandel, BW's award-winning chief economist, provides his unique perspective on the hot economic issues of the day. From globalization to the future of work to the ups and downs of the financial markets, Mandel-named 2006 economic journalist of the year by the World Leadership Forum-offers cutting edge analysis and commentary.