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B-175132 1 (1978-12-22)

handle is hein.gao/gaobabjlq0001 and id is 1 raw text is: COMPTROLLER GENERAL OF THE UNITED STATES WASHINGTON. D.C. 20548 B-175132 December 22, 1978 Dr. Robert C. Holland, President Committee for Economic Development zC tJX 1700 K Street, N.W. Washington, D.C. 20006 Dear Dr. Holland: We appreciate the opportunity to offer comments on CED's proposed study of Technology Policy and the United States Economy. Our comments are based on the project proposal you gave me at lunch on November 7, 1978. We believe this proposed study is both relevant and timely. It should complement the Administration's Domestic Policy Review on Industrial Innovation. For the CED study to be most effective, we believe that it must present an independent view. To this end, the analyses and recommendations formulated by CED should be developed by experts other than the authors and consultants involved in the Admin- istration's study. This should not preclude the sharing of substantive data and evidence which form the basis for analysis and support of conclusions reached. It is generally recognized that the combination of capital investment and technology development is one of the major contributing forces for productivity growth in the U.S. economy. As recent experi- ence demonstrates, it is not surprising to find that reduced commitments of capital investment for the acquisition of technology have been accom- panied by reduced productivity growth rates. However, little is known about the exact causal links and mechanisms by which technology policy influences the coupling of technology with capital and support productiv- ity growth. Moreover, knowledge about the effects of social, economic and international trade factors on the coupling mechanism is equally weak. Many studies and published papers have addressed the impact of Federal tax policies and regulations on private R&D investment. Other studies have addressed the uncertainties that currently exist in the domestic and foreign economic environment. These uncertainties have been cited as major deterrents to high risk R&D investment. These uncertainties in the economic environment appear to foster management 0 03147

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