Stimulus: Missing the Opportunity for Long-Term Positive Change?

     This from a PRNewswire article on the recently passed stimulus package:

“Congress missed a golden opportunity to invest in sustainable prosperity last week when it failed to fund a “Clean Energy” (or “Green Jobs”) Corps as part of its short-term stimulus package. The Clean Energy Corps would put America to work on real climate and energy solutions, providing job opportunities to young and poor Americans in renewable energy, energy efficiency and weatherization projects. Many policy makers and economic experts expect that a larger, more long-term economic stimulus package will be necessary later this year… Clean energy jobs will strengthen the economy, make America more energy independent and ease the harm of global warming. Plus, clean energy jobs would help less-advantaged Americans join the growing economy of the future.”

Now, besides the fact that,

a.)    Giving tax-paying Americans a little extra money to spend on material goods will not bring lasting stimulus to the U.S. economy any more than if your employer gave all of the company’s employees a small one-time bonus in an attempt to move the company into a global market status, and

b.)    America desperately needs to invest in initiatives that promote the creation of renewable energy and climate disruption,

I want to point out the real solution for long-term economic recovery, prosperity, and sustainability – creating an environment of innovation! As Hidalgo and Albors noted,  

“Innovation is something of a buzzword. As it is now perceived as central to achievement in the business climate of the 21st century, organizations, large and small, have begun to re-evaluate their products, their services and their operations in an attempt to develop a culture of innovation. This re-examination of organizational purpose is due to the recognition that developing a culture of innovation within the organization is the best insurance an organizationcan have of (relative) longevity in an environment of fast-moving markets. It is also the best guarantor, even though nothing is guaranteed, of long-term survival in today’s knowledge-driven economy… The knowledge economy can be said to be based on an efficient system of distribution and access to knowledge as a sine qua non condition for increasing the amount of innovative opportunities… The OECD (1996) defines knowledge-based economies as ‘economies which are directly based on the production, distribution and use of knowledge and information.’ It is not simply about pushing back the frontiers of knowledge; it is also about the more effective use and exploitation of all types of knowledge within all manners of economic activity… The increasing importance of knowledge is changing the way firms compete and the sources of comparative advantage between countries. For countries in the forefront of the world economy, it is a reality that the balance between knowledge and tangible resources has shifted so far toward the former and that knowledge has become perhaps the most important factor determining the standard of living (World Bank, 1998).”

Since we know that creating a culture of innovation within social, environmental, and industrial contexts is crucial to establishing long-term economic sustainability and prosperity – an atmosphere that promotes solutions for other dilemmas such as economic disparity, racial division, knowledge worker shortages, energy crisis, etc. – why is it that our best answer to an economic downturn comes in the form of “quick fixes” and short-term policies? Individuals, businesses, and countries must develop a “future-oriented” and long-term view that weaves systemic and structural thinking into their political, economic, and social psyche if they want any kind of future at all, both individually and from a global perspective. 

References: 

Hidalgo, A. & Albors, A. (2008, March). Innovation management techniques and tools: a review from theory and practice. R&D Management, 38(2), 113. Retrieved on March 1^st, 2008 from Proquest.  

“Green job corps” expected to return as part of long-term economic stimulus.” http://www.foxbusiness.com/article/green-job-corps-expected-return-longterm-economic-stimulus_476295_1.html

Image: Kevin Dooley (Flickr)