Discusses the relationship and contributions of research and development (R&D) to productivity growth in the United States. Focuses on the impacts of industrial R&D and presents study results on trends in productivity. (ML)

Traces the decline in United States productivity growth since the late 1960's. Suggests that the failure to innovate, changing demographics, and disruptions to the economy (including oil price increases and inflation) are major contributors to the decline. Argues that American living standards will stagnate unless this trend is reversed. (TW)