Some say the 2009 recession diminished the US’ ability to innovate. When the economy slows, many companies reduce budgets for R&D. Without R&D, major breakthroughs are put on the shelf. While this strategy may save money, it opens the door for other countries to catch up to the US in terms of innovation.
During a special program on the Nightly Business Report, they focused on some of factors that impede the US’ ability to retain its reputation as the leading global innovator. While there seems to be no imminent threat to lose our title, the recession provided