ABSTRACT: Most analyses of the recent economic meltdown and recovery focus on short-term economic factors such as GDP growth, job recovery, wage rates and asset valuation. Lost in this discussion are long-term changes taking place, including the three billion new capitalists who entered the world’s free economic system in the late 20th century, which are probably a bigger factor in economic competitiveness than banking failures, auto bailouts and government stimulus programs. Looking forward, countries have limited options in driving economic growth. Investments in education, research and development, and setting the right environment for innovation are the key variables that will determine winners and losers. The U.S. research university, the most important national innovation in the 20th century, is especially central to U.S. competitiveness.
BIOGRAPHY: Dr. Craig Barrett joined Intel Corporation in 1974, and served as president, CEO and chairman before retiring in 2009. Barrett is a leading advocate for improving education and for raising awareness of the value of technology in improving global social and economic standards. He chairs numerous organizations, research centers and non-profits focused on education and innovation, including: BASIS Schools, Achieve; K12; Change the Equation; Lawrence Berkeley National Laboratory; and Society for Science and the Public. Previously, he chaired or sat on the boards of: the National Academy of Engineering; the Clinton Global Initiative; the United Nations Global Alliance for Information and Communication Technologies and Development; the Business Coalition for Student Achievement; and the National Innovation Initiative. Barrett earned his B.S., M.S. and Ph.D. degrees in materials science from Stanford University and was a Fulbright Fellow at Danish Technical University and a NATO Postdoctoral Fellow at the National Physical Laboratory.