Or, if spoken of in generalities like "The financial system needs innovation, " it voices little more than hopes of a magical cure to our woes.
Yet even as these government investments were paying dividends and new technologies were in the process of remaking the American economy, the U.S. government was already in the process of weakening its commitment to the very innovation system that had made the IT revolution possible.
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One way to unlock innovation in our school system and help it transform into a student-centric one is to get out of our own way and eliminate these disincentives.
It is also important though that we have a patent system that encourages innovation but doesn't just lock in big monopolies that prevent new people from bringing new products into the system.
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Announcing the pilot, Catherine Dyer, chief executive of the Crown Office and Procurator Fiscal Service, said it recognised the need for innovation and the use of new technologies in the court system.
American companies, and for that matter European ones, are going to find it increasingly hard to compete unless they address systemic innovation - innovation-in-the-system.
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This would help to measure the quality of the patent system itself, and offer some way of evaluating whether it is working to promote innovation, or to impede it.
It needs to begin working with regulators to build a system that is stable while still allowing for innovation.
But the hobbled financial system will make it hard for cash-hungry start-ups to get financing, so innovation will suffer.
People are fine with it, because if companies instead use the patent system to shut out other start-ups, less innovation happens.
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