By Fareed Zakaria
It’s hard to find any good economic news these days. Europe is teetering on the brink; emerging markets such as China, Brazil and India are slowing down; and the United States is in a slump.
There is one bright spot on the American landscape: technology, particularly biotechnology. The cost of sequencing a human genome is down to $1,000, and the process now takes two hours — a pace that is much faster than “Moore’s Law,” which says that computing power doubles while its costs drop by half every 18 months. This technology revolution is already transforming whole industries. It is a reminder that, as we confront difficulties across the economic landscape, the one area where the United States can still move from strength to strength is science and technology — if we make the right decisions.