12/30/92
CONTACT: Stanford University News Service (650) 723-2558
STANFORD - Understanding the ways science and technology affect the nation's economy is important for U.S. policymakers as they attempt to increase the nation's competitiveness. To help provide them with more information, the National Research Council has created the Board on Science, Technology and Economic Policy (STEP), chaired by Stanford Business School Dean A. Michael Spence.
The 15 board members - including an array of economists, business leaders, and government policymakers - are scheduled to issue the group's first report in July.
Board members have studied and discussed macroeconomic and microeconomic variables, their relationship to the industrial economy, their effect on high-technology manufacturing and service industries, and the influence of these forces on scientific and technological advancement.
At a conference in September, members discussed factors that influence corporate investment, such as investments involving the development and deployment of new technology.
The first report will examine how government policies affect private investment, savings and the cost of capital. Later reports will discuss improving human capital through the education and training of the American work force, and standards-setting, including the process by which laws, regulations, rules and practices shape product standards that influence international trade and the accessibility of industries to markets.
The National Research Council was organized by the National Academy of Sciences in 1916 to associate the broad community of science and technology with the academy's purposes of furthering knowledge and advising the federal government. The council is the principal operating agency of the National Academy of Sciences and the National Academy of Engineering in providing services to the government, the public, and the scientific and engineering communities.
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