Obama policies no good for innovation: U.S. CEOs
By siliconindia news bureau
Tuesday, 18 May 2010, 08:34 IST
Bangalore: Innovation is seen to be a key for all organization, to strike the
success streak, however, U.S. President Barrack Obama's policies seem to go
against this trend. 57 percent of the CEOs surveyed at the Chief Executive
Council's annual meeting consider Obama's policies to be detrimental towards
innovation.
"Obama officials" seem more focused on government control and regulation.
Innovation is encouraged with less government interference and programs to
support innovation and entrepreneurship," said David Beatson of GlobalWare
Solutions in Redwood City. The different policies listed by the CEOs that
hinders innovation are High tax rates, excessive regulation, pro-union bias and
constraints on capital formation.
It is pinpointed that the increase in regulation and paperwork surrounding the
operation of a small business is crushing the main vehicle of U.S. innovation,
especially when it is combined with a lack of access to bank money. Veteran
tech executive and venture capital advisor Arun Chandra said, "U.S. is the
leader, but not for long. In 5 to 10 years, China, Korea and possibly India
will collectively overtake the U.S."
Only nine percent of the attendees canvassed said that President Barack Obama's
policies support innovation. Of those who support Obama's policies, one CEO
said the new health-care bill and alternative energy sourcing will likely
stimulate technological solutions.
Ur's
M.K.
"making impossible possible".
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