United States spends billions of dollars yearly in the promotion of research and development, Higher education and science policies. Table 1 above shows the performance of United States to the policies of Higher education in 2007. The total US performance on tertiary education shows that US is ahead of Europe in innovation on higher education. US scores 39 on higher education policies while Europe scores 23.
The table 2 below also shows the updated information of Federal government obligations for research and development and R & D plant from FY1990 to FY 2007. In 1990, U. S. expenditure on research was $11. 2 billions and in 2007, its expenditure has increased and has reached $28. 2 billions. The U. S. government expenditure on Development was $41billion in 1990 and reached $57. 7 billions in 2007 . In 1990; federal government expenditure on R&D plant was $2. 2billion and increased to $3. 5 billion dollars in 2007.
Thus the total government expenditures on all R&D and R&D plants was $65. 8 billions in 1990 but increased to $116. 7 in 2007. In Europe, R&D performances are below the U. S. performance Table1 shows that U. S. is ahead of Europe in Knowledge creations: Public R&D expenditures, Business R&D expenditures, Share medium, and high Tech R&D. From all indications, there is gap in EU-US innovation policies on expenditures of EU-US on tertiary education, business R&D, medium-high and high-tech manufacturing R&D.
Due to increasing gap between US, it is recommended that the EU should increase funds for basic research and development . They should copy United States by creating an agency that is similar to the National Science Foundation. In addition, there should be a reform in the higher education and industrial policy. European government should release more funds to the development of higher education in their respective countries for research in science and technology.
Claus Weyrich (1998).The meaning of Innovation –Management Commentary-Industrial Trend or Event-Column. bBNET . P. 1. Retrieved March 25,2008 From Bbnet database. Johan Hauknes. (1998). Dynamic innovation systems. Do service have role to play? STEP group. p. 11. Retrieved March 25, 2008 From STEP GROUP database. Jens Rostrup,Nielsen Haldor Topsoe (2003) Is the Grass Greener at the Neighbours? What can we learn from U. S.? Innovation in Europe: Dynamics Institutions and values. P. 1 Retrieved March 25,2008 From Roskilde University database.