Tag Archives: technology

Measuring Economic Growth: R&D Investments

Guest blog post by the  American Chemical Society.

ACSHow has the Super Bowl’s economy-driving market impact grown thanks to scientific research?

Can a value be placed on innovation? What is the economic impact of science and technology research? What is the return on investment of research and development?

These questions were addressed at the January 30, 2014, American Chemical Society Science & the Congress briefing, Measuring Economic Growth: R&D Investments, held on Capitol Hill. Moderated by the National Academies’ Stephen Merrill, PhD, panelist Steve Landefeld, PhD, of the Bureau of Economic Analysis spoke on how R&D numbers are now included in gross domestic product reports. Carol Corrado, PhD, of The Conference Board and Georgetown University explained how this captures “intangible” portions of the economy.

Researchers and scientists discover knowledge. Inventors and engineers apply understanding into tangible products like medicines, cars and computer software. Artists use technology from pens and paints to instruments and computers to produce works of entertainment. R&D thus seeds economic impact.

To illustrate R&D’s economic impact, IBM Chief Economist Martin Fleming, PhD, remarked that the Super Bowl attracts more viewers thanks to computer science: The 1st down line appears as “paint” on the field and not moving players. This TV “magic” results from scientific research of light and information. Camera sensors turn images into data, the Internet exchanges big data packages, then computer graphics paint on the TV screen in real time [with credit to Hollywood for development]. That the Super Bowl’s marketing power translates into significant consumer spending is hard to deny.

Andrew Lo, PhD, of MIT’s Sloan School of Management shows how R&D numbers are candy to financial markets to drive investment decisions that provide for economy-growing business. He showed that billions of dollars put into scientific and medical research in the War on Cancer has led to lifesaving drugs. The lives saved by these drugs contribute trillions of dollars to the economy. When considering multi-billion dollar federal spending, Lo states, “You can’t manage what you can’t measure.”

ACS Science & the Congress Project holds briefings in Washington, DC, to educate and inform Members of Congress, their staffs and policy professionals on issues of science and technology. Previous installments are available at https://vimeo.com/channels/acssciconhill and https://vimeo.com/channels/sciencesocietychallenges. For more information on these events open to the public, contact science_congress@acs.org.

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A Weekly Advocacy Message from Mary Woolley: Call in Friday morning to help change the national conversation

Dear Research Advocate:

Research!America, in partnership with the American Society of Hematology, released a new poll on Tuesday, revealing strong feelings about the consequences of recent fiscal debacles. A majority (57%) of Americans, across party lines, believe that the government shutdown in October caused significant harm to programs like medical research, defense and education, programs that Americans value. It is not difficult to connect the dots between fiscal dysfunction and the future of our nation: More Americans than ever believe that our nation’s global leadership in science, technology and research will soon be a thing of the past,with 73% saying we will lose global leadership by 2020 — just six years from now. A plurality says China will surpass us by then. This perception is not far off base. China and other countries, including most recently Mexico, are making major commitments to their research and innovation infrastructure. They are determined to drive their economy and contribute to health and prosperity by following what was for years the leadership example set by the U.S.

Last month, following President Enrique Peña Nieto’s leadership, the Mexican Congress increased the budget for the primary national science and technology agency by 20% for 2014 and increased the nation’s overall science budget by 12%. Battelle predicts that China’s dramatic increases in federal research spending have positioned the nation to overtake the U.S. in total R&D investment within a few short years. It’s high time we match the bold visions of Mexico, China and many other nations. Continue reading →

Top “disruptive technologies” that could revolutionize health care and research

Spectral karyotyping sequencing (SKY)A report this month by the McKinsey Global Institute — the subject of a story on The Washington Post’s Wonkblog — identified 12 “disruptive technologies” that could be transformative for the U.S. economy.

Such a forecast necessitates some parameters, of course. The authors, led by MGI Director James Manyika, DPhil, restricted their survey to already-established technologies which could have impacts across industries with a high potential economic impact. And with any forecast, the results are hardly ironclad. But, as Wonkblog contributor Neil Irwin writes, the study “represent[s] a serious effort by some smart people to quantify what appear to be some major forces shaping our technological future.”

Of most concern for us is Continue reading →

Majority of Americans Say the New Congress Should Take Immediate Action to Expand Medical Research

New Poll Data Summary reveals concerns among Americans about medical progress even in tight fiscal environment

Alexandria, Va.January 9, 2013America Speaks, Volume 13, a compilation of public opinion polls commissioned by Research!America, features timely data about Americans’ views on issues related to biomedical and health research. A majority of Americans (72%) say the new Congress and the President should take action to expand medical research within the first 100 days of the 113th Congress.  Public support for increased government spending on medical research holds particular relevance as Congress considers whether to further delay, eliminate or permit “sequestration,” a budget cutting process that – if it moves forward – would mean drastic cuts in funding for medical research.

“Americans will be looking closely at the actions of the new Congress to see whether lawmakers support policies that will accelerate research and scientific discovery,” said Research!America Chair John Edward Porter. “We’re on the brink of finding new treatments and cures for many deadly and debilitating illnesses. Congress must act to ensure that funding for research is sufficient to address current and emerging health threats.”

Most Americans believe accelerated investments in medical research should be a priority, yet nearly 60% say elected officials in Washington are not paying close attention to combating the many deadly diseases that afflict Americans. An overwhelming majority of Americans (83%) also believe that investing in medical innovation has a role in creating jobs and fueling the economy.

When asked about stagnant federal funding levels for research and the impact to science and technology, a wide majority (85%) said they were concerned.

Americans also expressed concerns about U.S. global competitiveness in the near future. Less than half (41%) believe the U.S. will be the world leader in science and technology in the year 2020. In addition, almost half (48%) do not believe the U.S. has the best health care system in the world.

“Consistently, our polls have shown that Americans value research and believe it’s part of the solution to what ails us,” said Research!America President and CEO Mary Woolley. “The return on investment is demonstrated in medical breakthroughs that have made diseases that were considered a death sentence into treatable conditions.”

Twenty years ago, AIDS ranked as the number-one health concern among Americans. Since then, research has saved countless lives and continues to drive progress. The number one health concern in 2012 was the cost of health care.

Among notable highlights in the booklet:

  • 78% of Americans believe that it is important that the U.S. work to improve health globally through research and innovation.
  • 70% of Americans believe that the government should encourage science, technology, mathematics and engineering (STEM) careers.
  • Nearly half (48%) believe government investment in health research for military veterans and service members is not enough.
  • 66% of Americans are willing to share personal health information to advance medical research if appropriate privacy protections were used.
  • 75% say it’s important to conduct research to eliminate health disparities.
  • Only 1 in 5 (19%) know research is conducted in every state.

To view America Speaks, Volume 13, visit: http://www.researchamerica.org/uploads/AmericaSpeaksV13.pdf

Research!America began commissioning polls in 1992 in an effort to understand public support for medical, health and scientific research. The results of Research!America’s polls have proven invaluable to our alliance of member organizations and, in turn, to the fulfillment of our mission to make research to improve health a higher national priority. In response to growing usage and demand, Research!America has expanded its portfolio, which includes state, national and issue-specific polling. Poll data is available by request or at www.researchamerica.org.

Online polls are conducted with a sample size of 800-1,052 adults (age 18+) and a maximum theoretical sampling error of +/- 3.2%. Data are demographically representative of adult U.S. residents. Polling in this publication was conducted by Zogby Analytics and Charlton Research Company.

About Research America

Research!America is the nation’s largest nonprofit public education and advocacy alliance working to make research to improve health a higher national priority. Founded in 1989, Research!America is supported by member organizations representing 125 million Americans. Visit www.researchamerica.org.

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