Overseas employees reap the benefit of US innovation

[Liberal_in_LA]

U.S. hard-pressed to stem domestic R&D losses
The nation's ability to turn ideas into products and profits at home has been eroded by deep manufacturing cuts and policies that result in others reaping the benefits.


Reporting from Washington — President Obama's proposal to boost the research tax credit for businesses is widely seen as necessary to bolster American competitiveness in the global economy.

But even if the $100-billion plan is approved, it won't begin to address the fundamental question of how to turn that research and new technology into jobs and renewed prosperity for Americans.

Over the last two decades, U.S. scientists and engineers have discovered or pioneered the science behind one blockbuster product after another — from flat-panel screens and robotics to the lithium batteries that run next-generation power tools and electric cars.

Yet in almost every case, production, jobs and most of the economic benefits that sprang from those breakthroughs have ended up overseas.

America's innovative spirit may still be the envy of the world — major steps forward in nanotechnology and biomedical fields, among others, continue to be made in U.S. labs. But without more effective policies to translate those achievements into gains at home, the fruits of America's creative genius will probably continue to be reaped by others.

And new reports show that during the recession American companies ramped up investment overseas for plants and new hires, as well as research and development — even as they cut back domestically

http://www.latimes.com/business/la-fi-economy-rd-20100913,0,7883731.story

[SocialistLez]

1. RAce to the bottom: they're going overseas for cheaper labor costs

::Sighs::

[McCamy Taylor]

2. "But...but...if everyone else keeps jobs at home, then I can move mine overseas

and increase my profits and still have an American middle class to buy my shit."

Everyman for himself got us into this mess.