Bernanke: Innovations will pump up the economy
WASHINGTON — Federal Reserve Chairman Ben Bernanke on Saturday said technological change will remake fields like health care and belie predictions that innovation will fade and economic growth will wane.
Bernanke told a college graduating class that the long-range practical consequences of innovations such as faster computers and the Internet are hard to predict. But inventors have only scratched the surface of the commercial applications that can be obtained in such fields as medicine and clean energy, he told the graduating class at Bard College at Simon's Rock in Great Barrington, Mass. Bernanke's son Joel graduated from the school in 2006.
“We live on a planet that is becoming richer and more populous and in which not only the most advanced economies but also large emerging market nations like China and India increasingly see their futures as tied to technological innovation,” Bernanke said in a text of his remarks, which were released in Washington.
“The number of trained scientists and engineers is increasing rapidly, as are the resources for research being provided by universities, governments and the private sector,” he said. “Both humanity's capacity to innovate and the incentives to innovate are greater today than at any other time in history.”
Show commenting policy
TribLive commenting policy
You are solely responsible for your comments and by using TribLive.com you agree to our Terms of Service.
We moderate comments. Our goal is to provide substantive commentary for a general readership. By screening submissions, we provide a space where readers can share intelligent and informed commentary that enhances the quality of our news and information.
While most comments will be posted if they are on-topic and not abusive, moderating decisions are subjective. We will make them as carefully and consistently as we can. Because of the volume of reader comments, we cannot review individual moderation decisions with readers.
We value thoughtful comments representing a range of views that make their point quickly and politely. We make an effort to protect discussions from repeated comments either by the same reader or different readers.
We follow the same standards for taste as the daily newspaper. A few things we won't tolerate: personal attacks, obscenity, vulgarity, profanity (including expletives and letters followed by dashes), commercial promotion, impersonations, incoherence, proselytizing and SHOUTING. Don't include URLs to Web sites.
We do not edit comments. They are either approved or deleted. We reserve the right to edit a comment that is quoted or excerpted in an article. In this case, we may fix spelling and punctuation.
We welcome strong opinions and criticism of our work, but we don't want comments to become bogged down with discussions of our policies and we will moderate accordingly.
We appreciate it when readers and people quoted in articles or blog posts point out errors of fact or emphasis and will investigate all assertions. But these suggestions should be sent via e-mail. To avoid distracting other readers, we won't publish comments that suggest a correction. Instead, corrections will be made in a blog post or in an article.
- Captive freed by North Korea enjoys tearful reunion in Ohio
- Immigration work permits could rise under contract
- Ferguson slaying of Brown reconstructed in county autopsy
- Coast Guard to seek billions to protect Arctic interests
- Coburn’s final ‘Wastebook’ tallies $25B in what he considers ‘pork’
- Social Security recipients to get increase in benefits
- Personal use of Secret Service agents on staffer’s behalf draws investigaton
- Academic scandal at University of North Carolina bigger than previously reported
- Man caught jumping White House fence
- Security at Capitol questioned
- 8 arrested in post-game riots in Morgantown