US: Losing Ground On Innovation?

America has long led the world in innovation and patent applications. But is the U.S. losing its competitive edge? “The scientific and technical building blocks of our economic leadership are eroding at a time when many other nations are gathering strength. Although many people assume that the United States will always be a world leader in science and technology, this may not continue to be the case inasmuch as great minds and ideas exist throughout the world. We fear the abruptness with which a lead in science and technology can be lost – and the difficulty of recovering a lead once lost, if indeed it can be regained at all.”