Michael Mandel of BusinessWeek reports, "... there's growing evidence that the innovation shortfall of the past decade is not only real but may also have contributed to today's financial crisis."
In his report, Mandel claims that innovation has failed in all arenas of US business; healthcare, info tech, product development and more.
In your particular area of expertise, do you see that American business has failed when it comes to innovation? Or do you think that Mandel's arguments are completely off-base?