Executive View
One reason for America's lag in productivity and gap in balance of payments is that the U.S. has lost much of its lead in innovation. Not in a long time have Yankee tinkerers produced an invention to rival nylon or the transistor. U.S. scientists and engineers have brought forth some fascinating new products, including talking toys and maybe the Moodymobile, but the ingenious Europeans and Asians are being granted an ever increasing share of the patents.
This deeply troubles John Hanley, a soap supersalesman who rode the Tide to the top at Procter...
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