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{{McNair Projectsby [[Carlin Cherry]]|Project Title=Debate Analysis=Article==Hillary Clinton and Donald Trump faced off on Monday night in the first of the 2016 Presidential Debates. Though the candidates discussed a variety of important topics,|Topic Areathe candidates spent more time answering questions about The Economy than any other topic [https://www.graphiq.com/vlp/3G0kRoy9dMV]. Even though the fields of entrepreneurship and innovation have been cited as one of the best sources of hope for revitalizing the economy [http://www2.itif.org/2016-clinton-vs-trump.pdf?_ga=Innovation1.265865103.1823216071.1474990123], virtually no air time was devoted to the candidates' policies on these topics. In fact, of the 28 minutes and 12 seconds spent discussing the U.S. Economy [https://www.graphiq.com/vlp/3G0kRoy9dMV], the candidates almost exclusively focused on trade and manufacturing sectors [http://www.npr.org/sections/money/2016/09/27/495693013/episode-726-terms-of-the-debate]. Interestingly, only 9% of the labor market is comprised of jobs in manufacturing; most jobs involve a service component of some kind (i.e. healthcare or teaching) [http://www.npr.org/sections/money/2016/09/27/495693013/episode-726-terms-of-the-debate]. How can we account for the overrepresentation of time devoted to fixing the economy through revitalizing the manufacturing sectors? This division of air time certainly doesn't stem from ignorance of other solutions; Clinton has demonstrated her commitment to entrepreneurship and innovation through her support of various policy proposals [http://mcnair.bakerinstitute.org/blog/clintonkaine-and-entrepreneurship-2/] and Trump's record as businessman [http://mcnair.bakerinstitute.org/blog/trumppence-and-entrepreneurship/] each seem to lend themselves to a more substantive discussion, Policyat a minimum,|Owner=Carlin Cherryon their experiences in these fields. Given the profound impact entrepreneurship and innovation will have on the U.S. economy over the next four years,}}what do the candidates' performances in the debate say about the role of entrepreneurship and innovation in their vision for the United States' economic future?

Hillary To understand the solutions the offered, we must first understand the candidates' perceptions of the economy. Clinton and Donald Trump faced off offered drastically different stories about the current state of the United States economy on Monday night in the first . Clinton optimistically said of the Presidential Debates. Though economy, "We have come back from that abyss [referring to the candidates discussed a smattering of important topicshousing bubble burst and financial crisis], including national security and race relationsit has not been easy, ” she said. “So we’re now on the candidates spent more time answering questions about precipice of having a potentially much better economy.” [https://www.washingtonpost.com/news/the-fix/wp/2016/09/26/the-first-trump-clinton-presidential-debate-transcript-annotated/] Trump, on the economy than any other topic hand, claimed that "we’ve become a third-world country” and are a "serious debtor nation". [https://www.graphiqwashingtonpost.com/news/the-fix/wp/2016/09/26/the-first-trump-clinton-presidential-debate-transcript-annotated/] [http://blogs.wsj.com/vlpeconomics/2016/09/27/presidential-debate-an-economy-about-to-take-off-or-a-bubble-about-to-burst/3G0kRoy9dMV]He said Clinton's claims of economic improvement are nothing more than smoke and mirrors, saying “the only thing that looks good is the stock market, but if you raise interest rates even a little bit, that’s going to come crashing down. This makes senseWe are in a big, fat, given ugly bubble.” [http://blogs.wsj.com/economics/2016/09/27/presidential-debate-an-economy-about-to-take-off-or-a-bubble-about-to-burst/]   Trump said the first step towards a solution is "to stop jobs from leaving the United States. The first thing you do is don' declining global competitivenesst let the jobs leave. Even though " [https://www.washingtonpost.com/news/the-fix/wp/2016/09/26/the fields -first-trump-clinton-presidential-debate-transcript-annotated/] Part of Trump's reasoning seems to stem from his belief that there are too many taxes and regulations on small businesses. However, Trump has a general lack of entrepreneurship focus or specificity regarding tech and innovation have been cited as one of the best sources of hope for the economy policy. If anything, Trump focuses on traditional manufacturing, which he demonstrated through his comments on Monday night. [http://www2.itif.org/2016-clinton-vs-trump.pdf?_ga=1.265865103.1823216071.1474990123] To learn more about Trump's plan in detail, please see McNair's blog post Trump|Pence and Entrepreneurship. Broadly, though, virtually no air time was devoted to the candidatesTrump' policies s tax cuts rely on these topicsthe theories of trickle-down economics. Planet Money describes trickle-down economics as a pejorative term for supply-side economics. [http://www.npr.org/sections/money/2016/09/27/495693013/episode-726-terms-of-the-debate] The idea is that cutting taxes for the wealthy will help the whole economy, because the money that wealthy people are not paying in taxes will be spent in other ways. In factRich people will buy things, or hire people, and that money will then trickle down to the rest of the 28 minutes economy. Trickle-down economics' effectiveness is contentious among economists and 12 seconds spent discussing an issue that divides the Ucandidates in this election.S. Economy During the debate, Clinton characterized Trump's plan as "trumped-up trickle down economics" [https://www.graphiqwashingtonpost.com/vlpnews/the-fix/wp/2016/09/26/the-first-trump-clinton-presidential-debate-transcript-annotated/3G0kRoy9dMV](she's not a fan of this tax policy).  Offering a sharp contrast to Trump, Clinton's approach to revitalizing the candidates almost exclusively focused on trade and manufacturing sectorseconomy has several very specific tenants. This lack In fact, she said of air time doesn't stem from ignorance; Clinton has demonstrated her commitment multi-faceted plan at the debate, “I’ve tried to entrepreneurship be very specific about what we can and should do." [http://blogs.wsj.com/economics/2016/09/27/presidential-debate-an-economy-about-to-take-off-or-a-bubble-about-to-burst/] Generally, Clinton wishes to engage the government as a private industry partner in implementing innovation through her support of various policy proposals policies. [http://mcnairwww2.bakerinstituteitif.org/blog2016-clinton-vs-trump.pdf?_ga=1.265865103.1823216071.1474990123] She wishes to grow federal Research and Development pages [http://www2.itif.org/clintonkaine2016-andclinton-entrepreneurshipvs-2/trump.pdf?_ga=1.265865103.1823216071.1474990123] , and would increase access to capital for small businesses. To learn more about Clinton's plan in detail, please see McNair's blog post Clinton|Kaine and Entrepreneurship. During the debate, Trumpdidn't say much about the specifics of this plan, but he did attack President Bill Clinton's record as businessman support of NAFTA in the 1990's. Clinton responded by saying, “I think my husband did a pretty good job in the 1990s,” she said. “Incomes went up for everybody.” [http://mcnairblogs.bakerinstitutewsj.orgcom/economics/2016/09/blog27/trumppencepresidential-debate-andan-economy-about-to-take-off-or-a-bubble-about-to-entrepreneurshipburst/] both seem to lend themselves to   Though a more few shots were fired back and forth throughout the debate, the candidates said very little in the way of substantive discussion on these economic policy actions they would take in the fields. Given the profound impact of entrepreneurship and innovation will have on . This is important because there is substantial evidence which has found that investment and development in these fields is key to the Ucountry's twenty-first century economic growth. [http://www2.itif.Sorg/2016-clinton-vs-trump. economy over pdf?_ga=1.265865103.1823216071.1474990123] [http://fortune.com/2016/09/25/presidential-debate-clinton-trump/] Media analysts attribute the air time devoted to the manufacturing sector as a nod to the next four yearsUnited States's idyllic past, what do the candidates' performances in good old days, if you will. [http://www.npr.org/sections/money/2016/09/27/495693013/episode-726-terms-of-the -debate say about ] As future debates unfold, hopefully the role of candidates will devote substantive time to discussing economic policy specific to entrepreneurship and innovation in their vision for , and move from reminiscing about the United Statespast to reinventing our country' s economic future. ==Link to Google Doc==https://docs.google.com/a/rice.edu/document/d/1wRd3teo5go5bk_cfNuFjUJQmWoiMrQPL2ph7hQdg0pE/edit?usp=sharing [[Category:Innovation Policy]]