Over long spans of time, economic growth and the associated improvements in living standards reflect a number of determinants, including increases in workers’ skills, rates of saving and capital accumulation, and institutional factors ranging from the flexibility of markets to the quality of the legal and regulatory frameworks. However, innovation and technological change are undoubtedly central to the growth process; over the past 200 years or so, innovation, technical advances, and investment in capital goods embodying new technologies have transformed economies around the world. Of course, factors other than aggregate economic growth contribute to changes in living standards for different segments of the population, including shifts in relative wages and in rates of labor market participation. And, contrary to the notion that highly trained and talented immigrants displace native-born workers in the labor market, scientists and other highly trained professionals who come to the United States tend to enhance the productivity and employment opportunities of those already here, reflecting gains from interaction and cooperation and from the development of critical masses of researchers in technical areas. SRC:MixSentence, IDs:AF24C528;6B520626;8AE00EE6;5B7C9030;BF1C8051;6F4F7993;0E3D6250;FA6D331A;04EFBA12;DCA74BA0;FAD9CA2D;8A9D7DB7;686A5530;C9571794;75B58E06;E73F66B8;5AD61E1B;24F0BE8E;ED732AD7;580A0BE2;1BB88423;953A87C9;F42FD8B5;103B5D06;3AD5669B;A2107323;56E21973;2603B15B;33F4E1AB;029700BB;C50AEBBB;A363888D;AD2F6436;4001EF39;8AA5A084;936E05A7;45417567;CF23534A;4F45A2FE;EA73E075;9DDE16A1;D16FA106;CE505E59;B7B2D198;FCAFA917;99219F16;07431703;1401C56F;20C02786;4BCDBA06 Although the system of higher education in the United States remains among the finest in the world, numerous concerns have been raised about this country’s ability to ensure adequate supplies of highly skilled workers.
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