Had to post this on this thread.
The problem is that to most Americans the third world still exists in it's 1970s state. They fail to realize or accept (like ostriches) that a country can have low per capita income and still be a technological superpower. Just because we are ahead of say Norway and Japan in say technology X does not necessarily mean we are also ahead of China and India in the same field. It is sad to see so few Americans pursue advanced degrees in the technology fields. All I saw in my graduate program were Chinese, Indians, Koreans and some Eastern Europeans with a handful of Americans. We are well on course to loosing the technology race if 1) the Government keeps cutting funds and 2) Americans do not pursue PhD/M.S. in fields like Math/Engineering/Physics etc.
Here is Bill Gates commenting on this on NPR even before this economic chaos:
Microsoft Chairman Bill Gates predicts that with fewer students in math and science and a lack of national funding, the United States is destined to fall behind other countries in innovation. The fierce competition to keep up with technological changes has led Microsoft to expand research offices in China and India.
'For God and country - Geronimo, Geronimo, Geronimo.'