Technology, Enterprise, and American Economic Growth

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Science  05 Mar 1982:
Vol. 215, Issue 4537, pp. 1204-1211
DOI: 10.1126/science.215.4537.1204


The weakening of technology-based economic growth in the United States may be due to inflation and to fundamental characteristics of American society and not, as is often suggested, to low expenditures on research and development, too much regulation, or risk-averse corporate management. Accordingly, renewed economic growth will require constraining inflation, as well as private initiatives and public policies that reflect the nature of technological progress and of the American people.