In this episode of Manufacturing an American Century, I sit down with Jonathan Gruber, MIT economist, and co-author of Jumpstarting America. Jonathan and I talk about the shifting landscape of government-funded science and the challenges of reigniting regional economic growth through strategic investments.

We discuss how the U.S. government’s role in funding research has fundamentally changed since the 1960s, why it matters for economic growth, and how tech hubs around the country can be the key to revitalizing local economies. Jonathan explains how the clustering of talent in a few superstar cities has held back broader prosperity—and outlines a bold vision for a future where regional investments drive national innovation.

We also explore the need for a long-term portfolio approach to science funding, rather than short-term thinking, and what structures are necessary to make this ambitious vision a reality. Tune in to hear why this matters now more than ever, especially as we look towards building a more inclusive, sustainable, and resilient economy.

AMCC’s podcast is made possible in part by the expertise of Mike McAllen, founder of Podcasting4Associations. Are you part of an association also looking to produce a podcast? Let us get you in touch with Mike.

Thank you to the Economic Development Administration for their partnership in producing this podcast. This podcast was prepared in part using Federal funds under award 3070145 from the Economic Development Administration, U.S. Department of Commerce. The statements, findings, conclusions, and recommendations are those of the author(s) and do not necessarily reflect the views of the Economic Development Administration or the U.S. Department of Commerce.

Participants:

• Dr. Jonathan Gruber, Ford Professor of Economics and the Chairman of the Economics Department, Massachusetts Institute of Technology
• Matt Bogoshian: Executive Director, American Manufacturing Communities Collaborative and host of the podcast.

Key Ideas:

• Government Science Investment Decline: Since the 1960s, U.S. government investment in science has significantly declined, dropping from 2% of GDP to around 0.5% today. This reduction has had a major impact on the nation's capacity for innovation and growth.
• Public Investment Drives Private Investment: Contrary to popular belief, public investment in science can stimulate private investment, not crowd it out. Jonathan highlights the importance of government leadership in creating environments where private innovation can flourish.
• Long-Term Structures for Sustainable Growth: Building sustainable economic growth requires long-term structures and patience. Jonathan emphasizes that developing new tech hubs is a decades-long process that demands persistent support and investment.

Links to Learn More:

• Find out more about Dr. Jonathan Gruber.
• Find his book, co-authored by Simon Johnson, titled Jump-Starting America: How Breakthrough Science Can Revive Economic Growth and the American Dream.
• Follow AMCC on Linkedin.
• Find Matt on Linkedin.
• Visit our website.

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