The Innovation Economy

The banks, the carmakers, the real estate marketwhat will we do? Stop panicking, and consider this eight-step plan to fix the U.S. economy for the long term, says Bill George

As commencement speaker at my alma mater, Georgia Tech, this past weekend, I proposed "the innovation economy" as the best vehicle for restoring long-term growth in the U.S. Watching 565 PhD and master's degree students accept their degrees, I was struck by the remarkable diversity of these students, compared to the school I attended in the 1960s. The majority of the class of 2008 were international students or newly immigrated Americans from China, India, and Eastern European countries.

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