Transformation and Opportunity: The Future of U.S. Enterprise

The Nation once led the world in investments in research and development (R&D) as a share of gross domestic product (GDP), but more recently, the United States has been investing less in R&D than other leading and emerging nations invest. Moreover, U.S. industry has been shifting its investments toward applied R&D, narrowing the support for basic and ear-ly-stage applied research, which is crucial to transforming innovation. Without adequate support for such research, the United States risks losing its leadership in invention and discovery-the driving force behind the new industries and jobs that have propelled the U.S. economy over the past century.