James Dyson: To compete, U.S. must take risks – Global Public Square

Editor's Note: Sir James Dysonis a British industrial designer and founder of Dyson Company. Fareed Zakaria recently interviewed

By James Dyson - Special to CNN

When it comes to taking risks, governments are notoriously reluctant. But in times of global economic uncertainty, its important to look beyond the short term. Debt reduction is necessary, but its not an economic cure all. Without fueling new ideas, long-term growth will stall. Investments are needed in new technology and infrastructure - expansive (and expensive) projects. Taking a risk requires brave decisions.

I had to borrow $900,000 to start up my vacuum cleaner company. It was a serious gamble. None of the