Yet the same council's innovation task force also gave warning that other countries are making heavy investments that threaten to erode America's position. It would like a big push in four areas: improving science, engineering and maths education; welcoming skilled immigrants; beefing up government spending on basic research; and offering tax incentives to spur “US-based innovation”.

These are mostly sensible recommendations because they focus on those framework conditions and bits of infrastructure that the market would not provide on its own. Where such prescriptions tend to go awry is when they argue for specific subsidies or tax breaks for favoured industries (like supporting only “US-based” innovation in today's world of global creative networks). After all, the Schumpeterian forces of creative destruction must be allowed to work their magic.

Resilience in the face of those disruptive forces gave Silicon Valley the edge over its nearest high-tech rival, Boston's Route 128 technology corridor. Both clusters were riding high until the personal computer and distributed-computing changed the market. Firms went through wrenching change, but those in northern California, like Hewlett-Packard and Xerox, emerged stronger than those near Boston, like Digital Equipment and Wang—which no longer exist. As Berkeley's AnnaLee Saxenian has shown, Silicon Valley's champions were nimble and networked but those on Route 128 were brittle, top-down bureaucracies.

1. John Kao compares America to “Detroit of nations” because _____.

[A] Detroit is the representative of innovation

[B] Detroit is experiencing the decline of similar nature

[C] Detroit paid less attention to creativity

[D] Detroit lacks the push by federal government

2. The word “dour” (Line 1, Paragraph 3) most probably means _____.

[A] serious

[B] exaggerated

[C] gloomy

[D] false

3. Towards the outlook of America's innovation, the Council on Competitiveness's attitude is _____.

[A] ambitious

[B] optimistic

[C] ambiguous

[D] reserved

4. Which one of the following statements is NOT true of America's position on innovation?

[A] It is still in the lead of the whole world.

[B] It is threatened by the Schumpeterian forces of creative destruction.

[C] It is facing great challenges brought by some countries paying great attention on innovation.

[D] It needs a big push so as to keep ahead.

5. Firms on Route 128 were not so competitive as Silicon Valley due to _____.

[A] its lack of quick and appropriate response to new development

[B] its wrenching change of computer technologies

[C] its fragile and inefficient structure

[D] its poor and inflexible management





文章剖析


这篇文章主要介绍了美国在创新方面的现状和面临的挑战。第一段和第二段讲述一些对于美国未来创新能力的怀疑观点；第三段讲述美国在创新方面的现状；第四段是对美国政府提出的一些建议；第五段分析了这些建议；第六段讲述硅谷和波士顿128路在创新方面的不同。





词汇注释


guru n. 领袖，头头

forge v. 加速形成

entrepreneurial adj. 企业家的

awry adj. 错误的，歪曲的

Schumpeterian adj.（奥地利裔美籍经济学家）熊彼特的

wrench vt. 猛拉，扭动





难句突破


① In his new book, Innovation Nation, he points to warning signs, such as America's underinvestment in physical infrastructure, its slow start on broadband, its pitiful public schools and its frostiness toward immigrants since September 11th 2001—even though immigrants provided much of America's creativity.

主体句式：In his new book, ... he points to warning signs, ...

结构分析：这是一个简单句，such as后面是四个并列的名词短语。

句子译文：在他的新书《创新国家》中，他指出了一些危险的信号，比如美国在基础设施上投资不足，在宽带的普及方面启动较慢，以及可怜的公立学校，还有自2001年9月11日以来对移民过严的政策——尽管移民是美国创新的主导力量。

② Whether it is by traditional measures, like spending on research and the number of patents registered, or less tangible but more important ones, like the number of entrepreneurial start-ups, levels of venture-capital funding or the payback from new inventions, America is invariably at the top of the league.

主体句式：Whether it is by... or..., America is...

结构分析：这是一个复合句，在前面的条件状语从句中，like spending on research and the number of patents registered表示列举，作前面traditional measures的同位语，like the number of..., levels of... or the payback...同样也表示列举，作less tangible but more important ones的同位语。

句子译文：毕竟，美国依然是创新的领头羊。无论是以研究费用、注册的专利的数量等传统的标准，还是不那么实际却非常重要的一些标准，如创业企业的数量、风险投资的水平或新发明的回报等来衡量，美国一直处于领先地位。





题目分析


1. John Kao compares America to “Detroit of nations” because _____.

[A] Detroit is the representative of innovation

[B] Detroit is experiencing the decline of similar nature

[C] Detroit paid less attention to creativity

[D] Detroit lacks the push by federal government

1. John Kao将美国比为“国家中的底特律”，这是因为_____。

[A] 底特律是创新的代表

[B] 底特律经历着性质相似的衰退

[C] 底特律不大注意创新

[D] 底特律缺少联邦政府的推动

答案：B　难度系数：☆☆☆

分析：推理题。根据第一段，John Kao担心美国会逐步丧失世界的领导权，成为“国家中的底特律”，那么可以推断，底特律应该是丧失了某一领域的领导权，在选项中，B与该意思最为接近：经历着衰退，也就意味着丧失了领导地位。

2. The word “dour” (Line 1, Paragraph 3) most probably means _____.

[A] serious

[B] exaggerated

[C] gloomy

[D] false

2. dour这个词（第三段第一行）最有可能的意思是 _____。

[A] 严肃的

[B] 夸大的

[C] 悲观的

[D] 错误的

答案：C　难度系数：☆☆

分析：猜词题。根据上下文，这个词所指的评论是第一段和第二段提出的，这些评论都对美国的创新表示担忧，对美国的地位不很乐观，而下文提出美国其实还在保持目前的地位。可以看出，选项C最为符合题意。

3. Towards the outlook of America's innovation, the Council on Competitiveness's attitude is _____.

[A] ambitious

[B] optimistic

[C] ambiguous

[D] reserved

3. 对于美国创新的前景，竞争委员会的态度是 _____。

[A] 雄心勃勃的

[B] 乐观的

[C] 模棱两可的

[D] 持保留态度的

答案：B　难度系数：☆☆☆

分析：细节题。根据第三段，竞争委员会近日在一份报告中总结说，美国的前景基本上还是光明的。第四段又提到创新特别工作组的警告。但整体来说，其对于美国创新的前景还是乐观的，因此，选项B是正确答案。

4. Which one of the following statements is NOT true of America's position on innovation?

[A] It is still in the lead of the whole world.

[B] It is threatened by the Schumpeterian forces of creative destruction.

[C] It is facing great challenges brought by some countries paying great attention on innovation.

[D] It needs a big push so as to keep ahead.

4. 关于美国在创新方面的地位，下列哪个陈述是错误的？

[A] 美国仍处于世界领先地位。

[B] 美国受到熊彼特创造性摧毁力量的威胁。

[C] 美国面临其他重视创新的国家的强劲挑战。

[D] 美国需要大的推动力以保证其领先地位。

答案：B　难度系数：☆☆☆☆

分析：细节题。选项A，根据第三段可以看出，美国在创新方面仍处于领先地位。选项B，第四段提到了熊彼特创造性摧毁力量，但并不是这个力量威胁美国，而是它一直在自己发挥作用，促进许多改革和创新。选项C，第四段提到了一些投入资金较多的国家可能会威胁到美国的地位，该陈述正确。选项D，全文多次提到了这一点。因此，答案为B。

5. Firms on Route 128 were not so competitive as Silicon Valley due to _____.

[A] its lack of quick and appropriate response to new development

[B] its wrenching change of computer technologies

[C] its fragile and inefficient structure

[D] its poor and inflexible management

5. 128路的公司没有硅谷的公司有竞争力，是因为 _____。

[A] 缺乏对新发展的及时和合理的反应

[B] 计算机技术的巨大变化

[C] 脆弱和无效率的策略

[D] 管理较差且不灵活

答案：A　难度系数：☆☆☆☆

分析：细节题。文章最后一段提到：“这两家一直很成功，但是后来个人电脑和分布式计算改变了市场，这让公司们经历了巨大的变化，但是位于北加利福尼亚州的公司，如惠普和施乐要比波士顿附近的公司，如数码设备和王（这些都已不复存在了）更强大些。正如伯克利的AnnaLee Saxenian所说，硅谷的老大都是机敏的、连成网络的，而128路的都是脆弱的、自上而下的官僚机构”。由此可见两个不同地区公司的区别，虽然它们都经历了巨大的变化，但是硅谷却因为灵活，因而比128路的公司更为强大，128路的缺陷主要在于官僚机构的僵化。因此，选项A最为符合。





参考译文


John Kao是一位创新领导者，10年前被本报称作“发明大王”。现在他担心美国正在逐步丧失世界领导权，成为“所有国家中那个臃肿、自负的底特律”。在他的新书《创新国家》中，他指出了一些危险的信号，比如美国在基础设施上投资不足、在宽带的普及方面启动较慢，以及可怜的公立学校，还有自2001年9月11日以来对移民过严的政策，尽管移民是美国创新的主导力量。他认为，美国需要的是联邦政府大力推动创新，就像把人送到月球上的阿波罗太空计划一样。

Carlson先生是加利福尼亚斯坦福研究院的院长，他从自己的第一手经验中理解了硅谷的力量。但是现在他也坚持认为，美国的信息技术、信息服务和医疗设备产业将要落后。“我预计我们国家将失去成百万的工作岗位，就像20世纪80年代，美国公司拒绝采用全面质量管理技术，而日本却在这方面走到了前头一样。”他认为，唯一的出路就是“学习创新技术”，并在能源科技、生物技术和其他科学领域建立全新的以知识为基础的产业。

人们很自然地要质疑这些严苛的评论以及要求政府采取行动的呼吁。毕竟，美国依然是创新的领头羊。无论是以研究费用、注册专利的数量等传统标准，还是不那么实际却更为重要的一些标准，如创业企业的数量、风险投资的水平或新发明的回报等来衡量，美国一直处于领先地位。事实上，竞争委员会近日在一份报告中总结说，美国的前景基本上还是光明的。

但是该委员会的创新特别工作组警告说，其他国家也投入了大量的资金，这可能会威胁到美国的地位。该小组希望能推动四个领域快速发展：改进科学、工程学和数学教育；欢迎技术移民；加强政府在基础研究上的投入；利用税收鼓励机制来激励“美国本土创新”。

这些都是最明智的建议，因为其针对的都是市场本身不能提供的结构条件和部分基础设施。这些建议的偏颇之处就在于要求给受惠的企业一些特别的补贴或减税待遇（如在全球创新网络世界中支持“美国本地的”创新）。总之，必须得允许熊彼特的创造性摧毁力量发挥自己的威力。

在面对破坏性力量的灵活性方面，硅谷比其最大的高科技对手——波士顿128路科技廊略胜一筹。这两家一直很成功，但是后来个人电脑和分布式计算改变了市场，这让公司们经历了巨大的变化，但是位于北加利福尼亚州的公司，如惠普和施乐要比波士顿附近的公司，如数码设备和王（这些都已不复存在了）更强大些。正如伯克利的AnnaLee Saxenian所说，硅谷的老大都是机敏的、连成网络的，而128路的都是脆弱的、自上而下的官僚机构。





Unit 14


TEXT ONE


When times get tough, people with an abundance of disposable income are inclined to keep disposing of it while the rest of us are forced to keep our thinner wallets in our pockets. With that in mind, Tobias Levkovich, Citigroup's chief United States equity strategist, has created the Living Large Index, comprising stocks of businesses that cater to affluent consumers. Profits and share prices of luxury-goods makers, higher-end retailers and travel and entertainment companies should hold up even if businesses serving them suffer from difficult economic conditions, he said.

The index is a new creation, but back-testing shows that building a portfolio from its component stocks would have been a far more lucrative long-term strategy than mimicking the Standard & Poor's 500-stock index. A $100 investment in Living Large at the end of 1995 would have grown to $1,013 by Oct. 31, compared with $252 for the S.&P. No wonder the logic behind the index wins high marks from investment advisers. “It certainly makes sense conceptually,” said Charles L.Norton, manager of the Vice fund, which invests in companies like tobacco makers, gambling emporiums and purveyors of alcohol. “Usually in a recession, people at the lower end of the food chain are hurt most and so those catering to the luxury end tend to be relatively insulated.” Mr. Norton holds one index constituent, Wynn, the owner of casinos, including one in Macao that has become a popular destination for Asian gamblers. Asia is expected to be a source of tremendous growth for the gambling industry.

If catering to well-heeled Americans is profitable, doing the same for wealthy people around the globe may be even more so. As economies develop, the number of rich people soars, and they have the same expensive tastes as Americans do. “The next big frontier for many of these luxury retailers is emerging countries, where growth is faster and the number of affluent people is growing even faster,” said Andrew Peck, manager of the Baron Asset Fund. “There are opportunities ahead for them in markets like China and India, where many new millionaires are being created every day.” He expects Wynn and Tiffany to benefit from those opportunities, along with a retailer not in Mr. Levkovich's index, Polo Ralph Lauren.

John Buckingham, chief investment officer of Al Frank Asset Management, recently recommended Nordstrom and Callaway Golf. He cautioned against depending on them and other Living Large stocks to hold their value if weakness persists in the economy and stock market, however. Much of their sales come from so-called aspirational buyers, those who hope to be affluent one day but are not yet in that category. The already affluent can afford cruises and top-name accessories when times are tough; the would-be affluent cannot. He noted that some of the index companies, notably Coach, Tiffany and Nordstrom, have recently reported earnings lower than analysts' estimates, a result of “aspirational buyers' slowing their purchases”.

Mr. Peck's quibble is with the selection of companies from disparate industries to create an index that purports to track a single phenomenon. Their share prices may be driven by myriad factors other than the appeal of their products and services to affluent consumers, he said. Still, the index “makes intuitive sense to me, within reason,” he said. “As a result of gains on Wall Street and a reduction of the top tax rate, the rich are getting richer. They are going to continue to be able to afford luxuries.”

1. When times get tough, rich people will probably _____.

[A] keep an indifferent attitude towards whatever the change is

[B] reduce their expenditure on luxury products but to a lesser degree than common people

[C] tend to have their purchase power enhanced

[D] have no change in their affluent spending

2. The word “lucrative” (Line 2, Paragraph 2) most probably means _____.

[A] profitable

[B] mature

[C] reasonable

[D] intuitive

3. Towards the prospect of the Living Large Index, Charles L. Norton's attitude can be said to be _____.

[A] positive

[B] negative

[C] indifferent

[D] unclear

4. Which one of the following is NOT true of John Buckingham?

[A] He did not suggest people to buy Living Large stocks recently.

[B] He thought the Living Large Index could not be immune from the weak economic condition.

[C] He thought would-be affluent would reduce their expenditure on luxury when times are tough.

[D] He thought it was dangerous to buy Living Large stocks if economy continues to deteriorate.

5. Of the Living Large Index, Mr. Peck's opinion is _____.

[A] that the index itself is intuitive rather than reasonable

[B] that there exists certain problem in selecting the component companies

[C] that the logic behind the index is not reasonable

[D] that the index cannot reflect the share prices exactly





文章剖析


这篇文章介绍了股票新指数Living Large指数的情况。第一段讲述Living Large指数的基本情况；第二段讲述投资该指数回报丰厚的原因；第三段讲述一些奢侈品公司可以关注美国之外新兴国家的富人需求；第四段讲述John Buckingham对于该指数的意见；第五段讲述Peck先生对于该指数的意见。





词汇注释


portfolio n. 证券组合

emporium n. 商场，商业中心

purveyor n. 承办商，供应者

casino n. 娱乐场，赌场

well-heeled adj. 富有的

quibble n. 吹毛求疵的意见





难句突破


① With that in mind, Tobias Levkovich, Citigroup's chief United States equity strategist, has created the Living Large Index, comprising stocks of businesses that cater to affluent consumers.

主体句式：Tobias Levkovich... has created the Living Large Index...

结构分析：这是一个简单句，Citigroup's...是作主语的同位语；现在分词结构comprising...修饰前面的the Living Large Index。

句子译文：发现这一点后，花旗银行的美国首席资产策略师Tobias Levkovich发明了Living Large指数，该指数由专为富裕顾客提供的商业股票组成。

② He noted that some of the index companies, notably Coach, Tiffany and Nordstrom, have recently reported earnings lower than analysts' estimates, a result of “aspirational buyers' slowing their purchases”.

主体句式：He noted..., have recently reported...

结构分析：这是一个复合句，在宾语从句中，notably Coach, Tiffany and Nordstrom是主语的同位语；在该宾语从句中，a result of...是前面earnings lower than...的同位语。

句子译文：他提到该指数下的一些公司，特别是Coach、Tiffany和Nordstrom最近公布的收入比分析家们预计的要少，这主要是因为“渴望购买者的消费减少了”。





题目分析


1. When times get tough, rich people will probably _____.

[A] keep an indifferent attitude towards whatever the change is

[B] reduce their expenditure on luxury products but to a lesser degree than common people

[C] tend to have their purchase power enhanced

[D] have no change in their affluent spending