Economy

A New American Oil Bonanza

Most of the price of gasoline is determined by the world price of crude, now hovering around $100 a barrel. Turmoil in major producer countries like Iraq and Libya does matter. But the new source of American energy means more supply has been added to global markets -- almost the exact amount that has been taken off the market at times because of unrest in the Middle East and Africa over the last five years.

Is the FAA limiting drone innovation?

“Manufacturers are starting to get anxious about migrating a lot of this technology into the commercial sector,” says Ben Gielow, a lobbyist at Association for Unmanned Vehicle Systems International (AUVSI) -- a Washington D.C. based drone advocacy group. “The commercial market is expected to outstrip the military demand within the next decade.”

Why Internet Access Monopolies Harm Innovation

When antitrust stories make headlines -- as the Comcast-Time Warner Cable merger has -- even well-intentioned analysis often confuses harm to competitors with harm to competition.

An Analysis of Entrepreneurship Indices

Within the past few months, several indices have been released that attempt to rank states based on their entrepreneurial activity. From the perspective of economic development agencies, these indices are particularly helpful in assessing where each state stands according to the numerous ways to measure entrepreneurship.

Forbes Announces Fourth Annual World's 100 Most Innovative Companies List

The list includes firms that investors feel are most likely to come up with the next big innovation. The U.S. dominates the list this year, but one-quarter of the companies on the list are from Asia.

Unlocking America's Innovation Warehouse

Over the past two decades, inventors have collectively spent $100 billion on patent filing and application fees and even more than that to maintain them over time. Yet, 95 percent of today’s 2.3 million active patents fail to earn even one dollar of licensing revenue, meaning they are not finding their way into the economy.

The Temporarily Shrinking Deficit

A congressional research service report predicts a return to a widening deficit and a level of debt that economists consider unsustainable. The first chart below shows the budget gap over the decades. The second shows historical and projected discretionary spending, including most federal R&D.

U.S. Commerce Department Invests $2.8 Million to Foster Innovation in Louisiana and Massachusetts

"The EDA investments announced today will support critical infrastructure and manufacturing projects that use innovation to help attract investment and create jobs in Louisiana and Massachusetts."

What if technological innovation is a job-killer after all?

Innovation is supposed to be the cure for economic doldrums. But what if it’s the cause?  More specifically: Is it possible that the ever-increasing automation of everything from factories to retail sales to journalism will destroy more jobs than it creates?

University of Maryland opens drone test site

University of Maryland officials on Tuesday announced the launch of a new test site to study how drones may coexist with jets, helicopters and other air traffic in U.S. airspace. The long-planned site is to be based near Naval Air Station Patuxent River in Southern Maryland.

Highlights from Brookings's Business and Innovation in Africa Event

Monday, Brookings hosted a forum of entrepreneurs and leaders in business, government, civil society, and media to explore priorities for U.S.-Africa policy; business strategies for economic growth and development; innovation and governance issues; and how Africa is perceived by the rest of the world.

Technology, skills moving auto industry forward and creating jobs

Grimy shop floors with man-powered assembly lines have given way to clean, high-tech centers where robots and Google Glass headsets are as common as air wrenches. And as innovation allows manufacturing to integrate technology, the skills needed to work in the industry are changing, too.

The U.S. Supreme Court Hopes To Limit Patent Trolling

In the wake of the U.S. Senate failure to address the problem of patents trolls legal experts begin to wonder if the courts are taking over where Capitol Hill failed. Unfortunately neither the courts nor legislators have yet directly addressed the looming specter of government sponsored patent trolls and their impact on global trade.

As U.S.-Africa Leaders Summit Begins, Key Members of Congress Say AGOA Must Be Reauthorized

As the U.S.-Africa Leaders Summit begins in Washington, DC this week, the Brookings Africa Growth Initiative has pulled together a high-level forum of leaders of entrepreneurs and leaders in business, government, civil society and the media to explore priorities for U.S.-Africa policy; business strategies for economic growth and development; innovation; governance; and shifting perceptions of Africa in the eyes of the rest of the world.

The Government Might Fund Your Idea Before Anybody Else Will

Sitting at the SBIR conference, I listened to agency after agency share their funding allocation for research and development. I couldn’t believe that these agencies were willing to pay for the infancy stage of innovation and kept pinching myself to make sure I wasn’t dreaming. Here are the five key things to understanding the SBIR funding program.

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