Where Have You Gone, Bell Labs?

August 31, 2009 | Source: BusinessWeek

The root of the current lack of new, high-quality job creation is the massive scaling back of science and engineering research, which has in the past made enormous contributions to science, technology, and the economy, including the creation of millions of high-paying jobs, says management consultant Adrian Slywotzky.

Here’s what’s needed to get that model back on track, he suggests:

• Clear national goals in two or three key areas, such as carbon-free energy and preventive medicine.

• Government commitment of $10 billion a year above and beyond spending for national agencies to jump-start new industrial research labs.

• Government tax credits for corporations that commit to spending 5% to 10% (or more) of R&D on basic research.