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USA is in recession and job losses are mounting. There is genuine fear that the ongoing financial crisis will lead to additional job losses and deterioration in the US economy. The new US administration is undoubtedly taking action and working towards bringing back the economy. US, needless to say, has to focus on utilizing the stimulus money towards fixing the system that once used to flourish but is now the very cause of the misery. These include the banking system, the financial system, the credit industry and the mortgage industry.
But this is hardly sufficient. In fact, there is even a bigger focus necessary in a largely ignored industry that could not just fix what's broken, but could help the US propel forward - to heights never seen before.
USA has long been known as the world's technology innovator and leader. Technology is one of America's stronghold. But as the research reports show, this is in now in grave danger. US, which has held its superior technology position since the World War II, is now clearly headed in the direction to lose this coveted position. A recent research study conducted by Georgia Tech clearly demonstrates that the traditionally known powerhouses of low-cost goods manufacturer are fast gearing up to lead the "high-tech" revolution. The report features, "The 2007 statistics show China with a technological standing of 82.8, compared to 76.1 for the United States, 66.8 for Germany and 66.0 for Japan. Just 11 years ago, China's score was only 22.5. The United States peaked in 1999 with a score of 95.4".
USA can't ignore this and lag behind in technology and innovation in the midst of the economic turmoil caused by the credit crisis, the mortgage crisis, the banking crisis and the financial crisis. Is there anything that can be done?
Yes. Absolutely. Here's one plan for consideration.
The new US administration, being the young, energetic and dynamic force it has clearly shown itself to be, should dedicate $1 Billion of the economic stimulus package towards a USA Venture Fund that has a single mission - "to fund technology ideas with the goal to steer USA to be THE global technology leader in the century ahead". Let's call this new venture "Idea Incubatory - a place where ideas are incubated to success.
$15 Million - $20 Million of the Fund should be allocated to each of the US States, Washington DC and other US territories, with each location (called an "Idea Incubatory Hub") led with the principles and discipline of any successful Venture Capital Fund.
Each Hub focuses on finding and funding 4-5 hot high-tech, clean-tech or other revolutionary ideas that have the potential to get USA back on the technology leadership map. In the process, each Hub will create multiple jobs, an important focus, given today's situation.
While the credit crisis, the bank crisis, the mortgage crisis and the financial crisis gets addressed, it is just as important to not lose focus on where the US can grow by leaps and bounds.
Why use the economic stimulus just to recover, while there is an opportunity to prosper?
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Democracy is a form of government in which power is held directly or indirectly by citizens under a free electoral system. It is derived from the Greek δημοκρατία (
In political theory, democracy describes a small number of related forms of government and also a political philosophy. Even though there is no universally accepted definition of 'democracy',[3] there are two principles that any definition of democracy includes. The first principle is that all members of the society (citizens) have equal access to power and the second that all members (citizens) enjoy universally recognized freedoms and liberties.[4][5][6]
There are several varieties of democracy some of which provide better representation and more freedoms for their citizens than others.[7][8] However, if any democracy is not carefully legislated to avoid an uneven distribution of political power with balances such as the separation of powers, then a branch of the system of rule is able to accumulate power in a way that is harmful to democracy itself.[9][10][11] The "majority rule" is often described as a characteristic feature of democracy, but without responsible government it is possible for the rights of a minority to be abused by the "tyranny of the majority". An essential process in representative democracies are competitive elections, that are fair both substantively[12] and procedurally[13]. Furthermore, freedom of political expression, freedom of speech and freedom of the press are essential so that citizens are informed and able to vote in their personal interests.[14][15]
Popular sovereignty is common but not a universal motivating philosophy for establishing a democracy. In some countries, democracy is based on the philosophical principle of equal rights. Many people use the term "democracy" as shorthand for liberal democracy, which may include additional elements such as political pluralism, equality before the law, the right to petition elected officials for redress of grievances, due process, civil liberties, human rights, and elements of civil society outside the government. In the United States, separation of powers is often cited as a supporting attribute, but in other countries, such as the United Kingdom, the dominant philosophy is parliamentary sovereignty (though in practice judicial independence is generally maintained). In other cases, "democracy" is used to mean direct democracy. Though the term "democracy" is typically used in the context of a political state, the principles are also applicable to private organizations and other groups.
Democracy has its origins in Ancient Greece.[16][17] However other cultures have significantly contributed to the evolution of democracy such as Ancient India[18], Ancient Rome[16], Europe[16], and North and South America.[19] Democracy has been called the "last form of government" and has spread considerably across the globe.[20] Suffrage has been expanded in many jurisdictions over time from relatively narrow groups (such as wealthy men of a particular ethnic group), but still remains a controversial issue with regard to disputed territories, areas with significant immigration, and countries that exclude certain demographic groups.
Politics is the process by which groups of people make decisions[citation needed]. The term is generally applied to behaviour within civil governments, but politics has been observed in all human group interactions, including corporate, academic, and religious institutions. It consists of "social relations involving authority or power"[1] and refers to the regulation of a political unit,[2] and to the methods and tactics used to formulate and apply policy.[3]
"Politics" ultimately comes from the Greek word "polis" meaning state or city. Politikos describes anything concerning the state or city affairs. In Latin, this was 'politicus' and in French 'politique'. Thus it became 'politics' in the English language
