The United States government started the National Nanotechnology Initiative (NNI) in 2000, and as it enters its second decade, a new report has been issued to evaluate its effectiveness. The results are impressive - the NNI has helped ensure that American has become the dominant force in the growing field of nanotechnology. And the report suggests that we should keep it up, because other nations are definitely trying to take the lead position in this growth industry.
The Science Progress blog has taken this as an opportunity to go into some interesting depth on the importance of innovation, and specifically the unintended consequences that can come from it. I won't go into detail on it in this post (as I have here and here), but needless to say it's nice to see the government agreeing that we should invest in our future success, instead of just bailing out businesses that are "too big to fail." I do wonder if American innovation is too big to fail, or if we'll have to wait until it's failed to find out that it was our most important asset.