Rice Undergraduate Research Papers

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Why should the U.S. Invest in Science, Technology, and Innovation?
(Rice University, 2024) Sapkota, Aastha; Baker Institute Science and Technology Policy Program
In recent years, the United States' leadership in global R&D has shown signs of decline, raising urgent concerns about its future economic and technological competitiveness. A primary contributing factor to this trend is the pressing need for more investment in science, technology, engineering, and mathematics (STEM) fields within the country. With an emphasis on the US position, this study examines how R&D outputs and expenditures are changing globally. A comparative analysis with China and other leading countries highlights how China's increasing investment in STEM fields might pose a challenge to America's position as the world leader in innovation and technology. Utilizing economic frameworks such as the Solow and Romer models, this study also examines how technological advancement facilitates sustained economic growth over the long term. This project explores whether the United States' future economic potential will be severely compromised by the country's present underfunding of STEM research programs, potentially leading to a significant loss of global competitiveness, a prospect that could shift American hegemony and tip the scales of Western economic power.