Rapidtechnologicalprogress means that we can reasonably expect that the incumbents will be capable of delivering much faster Internet access to consumers over the next decade.
In an economy characterized by the convergence of globalized commerce, widely available information and rapidtechnologicalprogress, innovation and entrepreneurship are crucial factors in sustaining and growing U.S. competitiveness in the world.
Manufacturing as a share of private-sector employment has been declining for decades, he said, because of outsourcing and, more importantly, "the rapid pace of labor-saving technologicalprogress, " which is affecting employment in the sector even in developing countries.