Abstract
The US has been a world leader in innovation and knowledge activities since World War II. Because the US has become accustomed to a position of leadership, there is widespread insecurity—maybe even paranoia—regarding threats to its dominance in technology, beginning with Sputnik in 1956. This paper provides some details of US decline relative, in particular, to European countries over the past two decades, when both strengths and the weaknesses are evident in US innovation and technology. The US has moved from a position of dominance to a position of first among equals, in line with a more widely distributed pattern of science and technological capabilities.
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