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Science and Innovation Strategic Policy Plans for the 2020s (EU,AU,UK): Will They Prepare Us for the World in 2050?

Milly Perry

Applied Economics and Finance, 2015, vol. 2, issue 3, 76-84

Abstract: The world in 2050 will be very different from the world in which we currently live. An in-depth analysis suggests five main forces that will reshape the global economy and influence the ¡°modus operandi¡± of the world in fifty years. These are defined as "the great rebalancing,"" the productivity imperative," "the global grid," "pricing the planet," and "the market state." This paper is a theoretical comparative review, backed by hypotheses methods, to illustrate the conceptual framework of how and if national and international policy makers and stockholders are preparing their communities (countries) for the challenges of the future. EU (2013) Horizon 2020 a major policy plan of the European Union which is built around the three focal pillars of "excellent science," "industrial leadership," and research to tackle "societal challenges," has decided to support research towards meeting seven broad challenges: Health; demographic changes and wellbeing; food security; sustainable agriculture and forestry; marine, maritime and inland water research; bio-economy; secure, clean, and efficient energy; smart, green, and integrated transport; climate action; environment, resource efficiency, and raw materials; inclusive, innovative, and reflective societies; and secure and innovative societies. The United Kingdom (2014) is aiming at being foremost in science and business. They plan to achieve this by prioritizing, nurturing scientific talent, investing in scientific infrastructure, supporting research, and catalyzing innovation through participation in global science and innovation. They intend on realizing these goals by taking the lead in accelerating the pace and seizing new opportunities. Support is needed to accommodate and foster higher levels of collaboration between disciplines, sectors, institutions, people, and countries. Australia (2014) declared the need for clear innovation priorities supported by a solid research foundation and strong linkages between business and research sectors, in order to increase the translation of knowledge into new products, processes and services. Also needed is a flexible workforce with the entrepreneurial skills to thrive in an environment of rapid technological change, and a regulatory environment that supports collaboration and creativity. Are these national objectives consistent with 2050 world challenges? What can we learn from national priorities and objectives? Are they driven by the science level and/or situation in a given country, or by previous investments in infrastructure and achievement status? Are they driven by geographic location or economic sustainability? Are the challenges common to all nations as global challenges? Are there any tools, strategy and solutions to meet those challenges? How will they influence science? And finally, does it reflect on science administration in this global world?

Keywords: science policy; 2020; 2050; economy; comparative analysis (search for similar items in EconPapers)
JEL-codes: R00 Z0 (search for similar items in EconPapers)
Date: 2015
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Handle: RePEc:rfa:aefjnl:v:2:y:2015:i:3:p:76-84