TribLIVE

| USWorld


 
Larger text Larger text Smaller text Smaller text | Order Photo Reprints

Bernanke: Innovations will pump up the economy

AP
Chairman of the Federal Reserve Ben Bernanke says fields including healt care and clean energy hold many opportunities for profitable innovations.

Daily Photo Galleries

By The Associated Press
Saturday, May 18, 2013, 7:27 p.m.
 

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

Most-Read Nation

  1. ISIS beheads American photojournalist who was kidnapped 2 years ago in Syria
  2. Scathing report says college trustees fail in mission
  3. Latest Ferguson protests are smaller, more subdued
  4. NRA’s ad campaign targets Bloomberg’s push to unify advocates of gun control
  5. Justice to alter removal process for no-fly list
  6. Health care data breaches hit 30M patients and counting
  7. Irwin native among military personnel kept waiting for return of personal vehicle
  8. Ex-Va. first lady sought credit for loan, sister-in-law says
  9. Agency makes high-tech push to improve military vehicles
  10. Weather keeps Calif. fire in check
  11. Ferguson pledges outreach
Subscribe today! Click here for our subscription offers.