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Nordic countries

Effective Innovation Policies and Institutions Continue to Help Drive Success of Nordic Economies

On Wednesday, October 16, ITIF hosted representatives from innovation and government agencies from Denmark, Finland, and Sweden to discuss Nordic Innovation: What Can America Learn from the Scandinavian Innovation Ecosystem. (Video and audio from the event are available here.) The speakers credited the recent success of the Nordic economies to several factors, including: a strong bipartisan consensus regarding the importance of federal investment in education, scientific research, and innovation; well-organized national innovation systems that benefit from formally articulated national innovation strategies (Finland’s, Sweden’s, Denmark’s) and well-funded national innovation agencies; and fundamental reforms undertaken in these economies over the past two decades that have made their tax structures more globally competitive, markets more competition-based, federal budgets better balanced, and workers greater skilled.

Indeed, across a range of indicators, it’s clear that Denmark, Finland, and Sweden represent some of the world’s most innovative and globally competitive economies. For instance, Finland, Sweden, and Denmark rank second, third, and eighth, respectively, in ITIF’s Atlantic Century II report, which benchmarks 44 nations and regions on 16 key indicators of innovation and competitiveness. In terms of national R&D intensity—how much

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Stem Education

The STEM Crisis is Real

Recently Robert Charette penned a blog post on IEEE Spectrum titled “The STEM Crisis is a Myth,” which makes the case that rather than having a shortage of STEM (science, technology, engineering and mathematics) workers, the United States has a surplus. Unfortunately his analysis is flawed. Indeed, the post is strikingly similar to a report published by the Economic Policy Institute (EPI) (which Charette cites) in April, and about which the Information Technology and Innovation Foundation published a comprehensive rebuttal.

First, like EPI, Charette argues that STEM graduates are not obtaining STEM jobs:

In the United States, you don’t need a STEM degree to get a STEM job, and if you do get a degree, you won’t necessarily work in that field after you graduate. If there is in fact a STEM worker shortage, wouldn’t you expect more people with STEM degrees to be filling those jobs?

Yes, it’s true: some STEM graduates don’t obtain STEM jobs. But Charette is missing a baseline for comparison of this figure. Sure, some STEM graduates work in fields outside their major, but is this more or less than graduates in

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Scientists in An American Lab

Scientific Researchers at Asian Universities Attracting More Industry Funding than American Counterparts

A report released last week by Times Higher Education, the World Academic Summit Innovation Index, finds that university scientific researchers from many Asian nations—including Korea, Singapore, Taiwan, and China—are attracting substantially more industry funding per researcher than their American counterparts. For example, the report finds that on average Korean researchers receive four times as much industry funding as their American peers, with the average value of industry funding per researcher in Korea totaling a world-leading $97,900, compared to just $25,800 for American researchers, which placed the United States 14th in the thirty-nation study. What makes this all the more striking is that American researchers tend to cost more than their Korean counterparts, and yet the latter still receive more funding.

Unfortunately, this report merely continues to present evidence from a long and troubling trend of faltering industry investment in university research in the United States. As ITIF found in its 2011 report University Research: The United States is Behind and Falling, from 2000 to 2008 the United States ranked just 23rd among 30 leading economies in percent change in business-funded research performed in the higher

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