WASHINGTON—Commerce Secretary Carlos M. Gutierrez today announced steps for the federal statistical agencies and others to work to explain and quantify one of the largest and most elusive drivers of the economy—innovation. Among the innovation measurement initiatives announced by Gutierrez were comprehensive accounting of the effect of high-tech goods and services, measuring the increase in productivity due to increased investments in innovation, and expanding collection of data on innovation.
The United States today is more than 75 percent wealthier in terms of real GDP per capita than it was 30 years ago, which is largely attributable to productivity gains driven, in large part, by innovation. However, until now, few steps have been in place to allow the United States to measure and understand innovation—and therefore develop polices that foster it.
Secretary Gutierrez announced these measures based on a report by the Advisory Committee on Measuring Innovation in the 21st Century Economy. Committee members* are CEOs and prominent academics who worked over the past year to develop innovation metrics.
“Innovation has proven an essential driver of growth for the U.S. economy,” said Secretary Gutierrez. “Thanks to the leadership of the committee and Chairman Carl Schramm, we now have a well-informed framework for moving forward and ensuring that we as a nation foster innovation and its contribution to a healthy 21st Century economy.” “While we recognize that the American economy is changing in profound ways—mostly due to innovation—our understanding is minimal,” commented Chairman Carl Schramm. “Data collection and measurement loom large in helping us to understand these changes and to identify and replicate what we’re doing well.” Secretary Gutierrez called for immediate steps and participation from other groups based on the report’s findings, including: Measuring Innovation in the 21st Century Economy Advisory Committee’s Recommendations Key Points Fact Sheet (PDF) Measuring Innovation in the 21st Century Economy Advisory Committee’s Notable Quotations (PDF) *The committee members are: Steve Ballmer (Microsoft Corporation), David L. Bernd (Sentara Healthcare), James Blanchard (Synovus Financial Corp), George Buckley (3M), Art Collins (Medtronic), Michael Eskew (UPS), Luther Hodges, Jr. (Phoenix Associates), John Menzer (Wal-Mart Stores), Samuel J. Palmisano (IBM), Carl Schramm (Ewing Marion Kauffman Foundation), Ashish Arora (Carnegie Mellon University), Rajesh Chandy (University of Minnesota), Kathleen B. Cooper (Southern Methodist University), Dale W. Jorgenson (Harvard University), Donald Siegel (University of California at Riverside).
Source: U.S. Department of Commerce
