Quote of the Day 6/18/2014

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“Historically, the economies of many of these states depended on natural resources, on tourism, or on mass-production manufacturing, and relied on low costs rather than innovative capacity to gain a competitive advantage. In the New Economy, however, innovative capacity (derived through universities, R&D investments, scientists and engineers, highly skilled workers, and entrepreneurial capabilities) is increasingly the driver of competitive success, while states only offering low costs are being undercut by cheaper producers abroad.”

-Researchers Robert D. Atkinson and Adams B. Nager, writing about the states that fared worst in their 2014 State New Economy Index. Oklahoma ranked 48th out of all 50 states (Source: http://bit.ly/1snTpjD)