The importance of innovation in the economy of advanced countries

The history of employment in advanced economies is rife with major shifts arising from technology and the emergence of global competition. The global situation of markets, capital, and costs have destroyed and recreated manufacturing jobs many times over. Thus, if engineering jobs do indeed migrate to low-cost regions, the US might see a redirection of students and professionals to other areas. The author believes that innovation occur in nations where education and free cultural environment prosper.