A crisis of short-term thinking

In this Business Week interview Greg Blonder, ex AT&T Bell Labs boss turned venture capitalist sees a crisis of short-term thinking approaching in the world of American technological research. The dot com boom, he says, encouraged people to forget long term thinking which could lead to problems in the future ("The innovations making news today still stem from research that was done 15, 20, or 30 years ago"). He suggests encouraging foreign scientists and engineers to immigrate and reforming the patent laws, and expects increasing amounts of innovation to be dependent on computer simulation. (via Techdirt)