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May 7 - May 13, 2007

Looking for a Few Good Books

NDE will be publishing its annual Summer Books Issue in June, highlighting a collection of the best and most interesting reads related to innovation and entrepreneurship that have come out in the past year. If there is a book that you couldn’t put down – or that you found yourself recommending to others repeatedly – we want to know about it. All suggested books must have been published within the past year. Send your comments and suggestions to us at editor@nde-news.org. 

The issue will feature a review on Good Capitalism, Bad Capitalism and the Economics of Growth and Prosperity, a new book by Carl Schramm and Bob Litan of the Kauffman Foundation and Princeton economist Will Baumol. Schramm and Litan will be in Washington, DC for a book signing this Thursday, May 10. Learn more about the Good Capitalism, Bad Capitalism book signing and get a jump on the Summer Books Issue.

America’s Innovation Potential

Tapping America’s Potential, a new business-led campaign with the goal of doubling the number of science, technology, engineering and math (STEM) graduates with bachelor’s degrees by 2015, is gaining momentum. The campaign’s American Innovation Proclamation has now been signed by more than 270 business and higher education leaders. Meanwhile, on Capitol Hill, efforts like Tapping America’s Potential, seem to be paying off. Over the past few weeks, both the House and Senate have passed bills to expand support for STEM education. On April 25, the House passed H.R. 362, the “10,000 Teachers, 10,000 Minds” Science and Math Scholarship Act, and H.R. 363, the Sowing the Seeds through Science and Engineering Research Act. On the same day, the Senate passed S. 761, the COMPETES Act (America Creating Opportunities to Meaningfully Promote Excellence in Technology, Education and Science). All of these measures support expanding funding for Federal R&D programs and also create a host of new scholarship programs for STEM educators and for those pursuing degrees in related fields. While there are some minor differences to iron out between the two bills, most observers expect some unified version of these proposals to be enacted in the near future.

Learn more about Tapping America’s Potential

To learn more STEM related legislation now under consideration in Congress, visit http://thomas.loc.gov.

Turning the Tables on Venture Capitalists?

Via their investment decisions, venture capitalists (VCs) regularly “vote” on the quality of entrepreneurs and their ideas. While VCs do receive scrutiny from the investors, they rarely get rated by entrepreneurs. A new website, thefunded.com, is seeking to change that. The site, which refuses to disclose its owners or operators, seeks to serve as a forum for discussions about the best funding sources for new and emerging businesses. In addition to providing information and other resource guides, the site also operates like a customer ranking system found at sites like eBay and Amazon.com. The site recently listed the top five VC firms for entrepreneurs. They were: InterWest Partners, Clearstone Venture Partners, First Round Capital, Sequoia Partners, and Trinity Ventures.

Learn more about thefunded.com. Registration is required for many features on the site. 

World Public Bullish on Globalization

While the media regularly reports on the downsides of globalization, the general public around the world remains fairly bullish about these trends. A new global survey sponsored by the Chicago Council on Global Affairs and WorldPublicOpinion.org finds that support for globalization is remarkably strong around the world. The survey queried residents of seventeen countries plus the Palestinian territories. In 14 countries, a majority agreed that globalization was “mostly good for their country.” Positive opinion of globalization was highest in booming export economies like China, Korea, and Israel. The three outliers were Russia, Mexico, and the Philippines where anywhere from 22-32% of respondents cited globalization’s negative effects. But, even in these states, a large portion of respondents (an average of 44%) cited globalization’s benefits.

Download the 2007 World Survey on Globalization and Trade.

Graduate Education and Competitiveness

A new study from the Council of Graduate Education examines trends and warning signs for America’s graduate schools. Not surprisingly, the Council contends that graduate education is critical to American competitiveness. But, the report also notes that our current system is facing numerous strains. The US needs more citizens trained and educated about science and technology. Achieving this goal will require extensive collaboration between educators, researchers, the business community and policymakers. The report endorses numerous proposals to expand science, technology, engineering and math education, such as the Congressional legislation cited above. It also supports more open immigration policies that can help attract and retain the world’s best and brightest who seek to pursue graduate education in the US.

Download the April 2007 Council of Graduate Education report, Graduate Education: The Backbone of American Competitiveness and Innovation.

The Rise of the Sunbelt

Why has America’s Sunbelt boomed over the past few decades? There are a number of theories: warmer weather, wider use of air conditioning and less union influence are just a few. An interesting new paper by Harvard researchers Edward Glaeser and Kristina Tobio seeks to tease out the various explanations for the South’s economic resurgence. The study finds that the Sunbelt’s boom has not been caused by an influx of new residents seeking better weather and related amenities. Between 1950 and 1980, much of the South’s growth is explained by economic convergence. In other words, Southern economies caught up with the rest of the US in terms of economic productivity. Since 1990, housing seems to have played a more critical role. Housing supply in the South has grown at a rate 20 percent higher than elsewhere in the US. This increasing supply (and thus lower costs) has served to attract new residents to the region. However, while this housing growth has spurred population growth, it has not affected productivity growth. While the researchers conclude with a call for more research into the connections between housing supply and regional growth, it is clear that complex factors lie behind the region’s recent prosperity.

Access the 2007 Harvard Institute of Economic Research Discussion Paper, “The Rise of the Sunbelt,” by Edward Glaeser and Kristina Tobio.

The National Dialogue on Entrepreneurship is an initiative of the Public Forum Institute made possible by a grant from the Kauffman Foundation of Kansas City. Through NDE-news, we bring you short summaries and analyses of various trends driving entrepreneurship around the world. Subscribe now to receive your weekly copy. Archived issues are available online.

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All stories © 2007 The Public Forum Institute
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