Johnny Ch Lok

Future Technology Development Johnny Ch Lok

Chapter sixUS entrepreneurship innovation influence US future geography economic growth. Some economists believed the interplay between entrepreneur, innovation and economic geography growth in the United states of America have close relationship . Because future innovation is the driving force of growth in the knowledge economy to US . They assumed that if future US entrepreneurships chose to act as new firm formation, which will prefer to accept any new technological innovation to manufacture any new technological products and reallocate any new resources to apply to concentrate on manufacturing any new technological products within firms. For example, Bernard, et al. (2006) find that one third of the net increase in real U. S. manufacturing output between 1972 and 1997 is due to the net adding and dropping of products by surviving firms, a contribution that dwarfs that of net firm entry and exist. Clearly new firm formation is only one dimension of innovation and existing firms account for a large share of total research and development (R& D), in many industries such as pharmaceuticals. It seems US any industries will need spin off of existing operations and the acquisition of independent start-ups are now important dimensions of new process and product development. Thus, innovation is an important factor to influence US economic growth in the future. However, it will have challenges to US different industries when the causal connections between entrepreneurship, innovation and growth arises. For example, US employment growth of large, middle and small sizes of entrepreneurships will be strongly positively correlated with US any new firms formation, but this doesn't necessarily imply that entrepreneurship causes growth . There may be one factor that causes US employment growth and US firms formation to co-vary, and it is hard to find instructions that affect US firm formation, but have no independent effect on US employment growth. The interpretation of the correlation between US employment growth and US firm formation relates to old debates in US economic geography about whether US workers follow US firms, or US firms follow workers or there are mutually reinforcing feedbacks between US firms' and workers' locations decisions. So, some economists believed that, US any domestic geography economic growth will possible be caused by these factor, such as either US geography firms innovation factor or US geography high technological workers high level productivity factor or US geography firms innovation or US geography high technological workers high level productivity both combining factor. But the challenge will cause, it assumes that future many US entrepreneurships choose to innovate to manufacture whose products. Although, many high technological manufacturing workers employment chance will be raised, but it also cause many low technological manufacturing workers employment chance will be reduced as the same time. So, it is difficult to keep high technological and low technological both workers who have same fair employment chance as the same time in the future US society if US planned to achieve the future knowledgeable innovation economic society.