A recent highly acclaimed book by economist, Robert Gordon, “The Rise and Fall of American Growth,” argues the epoch of rapid growth in the US is over. Do R&D firms have the potential to prove him wrong? Dr. Knott’s previous research showed the link between R&D and economic growth broke around 1980, and attributed the disconnect to a 65% decline in firms’ R&D productivity (RQ), suggesting that if we could reverse the decline in RQ, we could restore economic growth.
Linking firms RQs to their R&D practices using data from the annual NSF survey, Knott presents findings on why RQ had fallen so dramatically. It appears that a single factor accounts for almost all of the decline in RQ. Discover what this factor is, and explore how R&D organizations can restore their own growth and in the process, increase economic growth as well.