Aussie-Sino Studies

2015, (3) P1-P9

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Innovation, Human Capital, and Inequality

Allan C. Ornstein

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The humblest and poorest in America have been able to lift up their heads and face the future with confidence. Since the rise of the common school movement, starting in the 1820s, the majority of Americans have increasingly relied on education as an integral part of this process of becoming. Regarding income, wealth and equality, three aspects are considered: first by choking the working and middle class-the populace or base that a democracy needs in order to function-second by reducing opportunity for most citizens because the income/wealth gaps are too wide to permit a level playing field and third by increasing the costs of goods and services which will make us less competitive with emerging nations such as China and India .These two countries are annually growing 7 to 10 percent while we are growing by 1.5 to 2 percent and are incrementally going to have a more competitive advantage because they stimulate their collective talent towards new ideas, new industries, and new markets; moreover, they have several technical universities that rival MIT and Stanford. The next big ideas are bound to come from young talent in Asia, from people with hard-to-pronounce names. Therefore, we have to get used to the notion that many innovative ideas in the 21st century will be coming from Eastern-rim nations.

关键词(KeyWords): Innovation, human capital, inequality

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作者(Author): Allan C. Ornstein

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