America - With Change Comes Opportunity

In working to improve the economies of other countries, the US has created problems for itself in the areas of competition, resulting in the chance that the US may be losing its traditional international economic dominance. Many of these problems are related to or caused by technological factors, such as the maturing technology base of many US smokestack industries. US high technology industries are prospering, while low technology industries tend to go overseas, where labor rates are low. A number of initiatives must be taken to improve the competitive position and the economy of the US in accommodating the changes that are taking place: 1. The educational system must be improved with industry's participation and cooperation. 2. US research and development (R&D) must be used more effectively to ''convert technological opportunities into economic realities.'' 4. Smokestack industries must be revitalized through the application of high technology. The US must learn to remedy the growing pains that accompany technological change and growth.