January 2008
Department of Commerce: Measuring Innovation Advisory Committee Final Report
Innovation Measurement: Tracking the State of Innovation in the American Economy, the final report of the Commerce Secretary's advisory committee on that subject, highlights the results of that effort. According to the press release, "[A]mong the innovation measurement initiatives announced [by the DOC Secretary] were a comprehensive accounting of the effects of high-tech goods and services, measuring the increase in productivity due to increased investments in innovation, and expanding collection of data on innovation." One of the more interesting initiatives (among several announced) is for the BEA to design "a supplemental innovation account by January 2009. This account will be a framework for directly measuring how much of the overall increase in productivity is due to increased investments in innovation. It will include investments in intellectual property (including patents, copyrights and trademarks) and in human capital…"
August 2006
Department of Commerce: Measuring Innovation Advisory Committee
Department of Commerce (DOC) Secretary Gutierrez announced the he will convene a Measuring Innovation in the 21st Century Economy Advisory Committee. The panel, assembled by the Secretary and assisted by a departmental task force, will consist of 15 academic and business experts coming together to review how innovation is measured in the U.S. economy. Gutierrez notes, "U.S. Government economic data are the best in the world and must keep pace with changes in the economy. I believe -- in this fast-paced, dynamic economy -- we can do an even better job of measuring innovation. I want to build on the stellar work of Commerce professionals who measure the economy and collaborate with experts and data users outside of government to propose better innovation metrics within a year." The Committee will produce an interim report in early 2007, which will be finalized for release by mid-2007.
