BUS365 Creativity and Innovation
Instructor: Ryan Kauth
January 20, 2014
Governmental Support of Technological Innovation
Innovation has been one of the most popular current trends in the world today. Every nation and every part of the world is challenging one another in creating new things, having innovative ideas and changing the way of living. This can be seen in different projects that each public and private organizations have all over the world, like creating fuel efficient transportation means or having a safer and cleaner environment. We have countries that are topping the list when it comes to innovation like China,
Germany and Japan as they continue to focus their resources, skills and talents in changing our ways of life through innovation. As for America, it has been including technological innovation as one of the things they have to focus on and have budget with. There are now researches funded by the government and they are now using high end computers and other tools to ensure that they can come up with a revolution. In this paper, we will be looking at the two important government programs we have that aims to innovate and how these program’s funding can be used if not for the said research program.
The American Recovery and Reinvestment Act Energy Program is the first program we will talk about. The main focus of this program is to focus on fuel and be able to save energy, how to renew energy and hot to sustain jobs and be able to create more. This program is also responsible in making a program or a project that will end up reducing greenhouse gas emission effect. This is the program that will find answers to the energy crisis that the country is facing. As the programs continue, one of the most remarkable things it has created is the creation of fuel efficient vehicles. Although funded by the government, it deals with private sectors hence private sectors needs to hire more people to the job, adding more work available for the people. Since this program is in research, most of the workers here are professionals and intellectuals people being given the chance to study and do their own researches too along the way hoping that they will stumble with the right formula at the right time.
“To respond to the Great Recession, the primary objective for ARRA was to save and create jobs almost immediately. Secondary objectives were to provide temporary relief programs for those most impacted by the recession and invest in infrastructure, education, health, and renewable energy. The approximate cost of the economic stimulus package was estimated to be $787 billion at the time of passage, later revised to $831 billion between 2009 and 2019. The Act included direct spending in infrastructure, education, health, and energy, federal tax incentives, and expansion of unemployment benefits and other social welfare provisions” (Unknown, 2011).
“The Act was designed to cushion the fall in demand caused by the financial crisis and the subsequent decline in consumer and business confidence, household wealth, and access to credit. Together with policies to stabilize the financial system, increase liquidity and credit, and address the bursting of the housing bubble, the ARRA was part of a comprehensive policy response to the economic turmoil that gripped the United States and the world economy in the fall of 2008 and early 2009” (Unknown, 2011).
The Defense Advanced Research Projects Agency is the second program I would like to talk about. This program is in positioned towards a better military weapon and combat materials. With this program, the funds are used to create the best gear and weapon for the military people fighting out there and in case there will be need for the country to defend itself. However, Defense Advanced Research Projects Agency is not all about weapons and fights; it also aims to create programs that will make the life of the