Office of Technology Assessment, United States Congress, science, technology, policy
Funding Post
According to this website, “Arati Prabhakar joined U.S. Venture Partners in 2001 after 15 years of working with world-class engineers and scientists across many fields to brew new technologies.” The article outlines her career, which she began as Congressional Fellow at the Office of Technology Assessment.
Nella Selim | DailyKos | December 2, 2008
A blog entry about restoring OTA says that, “…now is the crucial time for Congress to restore this agency and give Congress an independent view of science and technology rather than depending on industry scientists for science advice.” It also conducts a poll, “Do you think the Office of Technology Assessment should be restored?” To see the results click here.
John Wonderlich | Sunlight Foundation Blog | November 11, 2008
A blog post says that “with so many options for coordinating or institutionalizing advice, recommendations, and reform, the incoming Obama administration has a long history to consider, and a plethora of options at hand.” It mentions attempts to revive the Office Of Technology Assessment, which is “sorely needed,” and the new FAS database of OTA reports.
By Eric Meade | The Extreme Future | November 2008
A blog entry predicts that the new administration will have a new approach to the future and will revive the tradition of government foresight. It mentions several forward-looking programs from the 1970’s, including the Office of Technology Assessment, Congressional Clearinghouse on the Future, and a 1974 requirement of the House Select Committee on Committees that each standing committee undertake futures research and forecasting.
By Paul Light | Roll Call | November 20, 2008
An article about the threat to some of our country’s greatest achievements by a recent lack of investment in the infrastructure of government. It makes three suggestions for the new Congress: 1) create a new office similar to the disbanded Office of Technology Assessment -perhaps the “Office of Long-Range Analysis,” 2) set in place updates to decisions to be “triggered” later by new information, and 3) find the courage to look into the future and tackle the issues coming at us.
A 1990 OTA report, Electronic Bulls and Bears: U.S. Securities Markets and Information Technology, notes that “Computer-assisted trading strategies can cause short-term price volatility, or spread selling or buying pressure from one market to others.” The report was written in response to requests by the House Committee on Energy and Commerce and the House Committee on Government Operations to assess the role of communication and information technologies in the securities markets.
OTA said, “Futures and options markets are criticized for developing products that are suspected of increasing the likelihood of a market crash. These problems call for a re-examination of public policies including changes in the regulatory structure.” The report also states, “The private sector cannot achieve, without government assistance, some of the necessary adjustments to keep American markets strongly competitive and to protect American investors and financial systems.”
In another 1990 report, Trading Around the Clock: Global Securities Markets and Information Technology, OTA describes the forces encouraging the development of international securities markets, the obstacles that must be overcome, and the major sources of unnecessary risk. The report describes three possible international regulatory schemes and states, “Effective response to a major securities market break will in the future require international as well as domestic actions. The central issue may be how to prevent a liquidity crisis from becoming a solvency crisis.”
In a 1984 report, Effects of Information Technology on Financial Services Systems, OTA described new technologies and other changes in the financial service industry and warned that in large amounts of funds were being moved from accounts that are insured and closely supervised to accounts that offer higher return but have little, if any, Federal protection. This report was part of a study requested in 1982 by the House Committee on Banking, Finance, and Urban Affairs; the House Committee on Energy and Commerce and the Senate Committee on Banking, Housing, and Urban Affairs. The committees requested OTA to study the impacts of information processing and telecommunication technologies on financial service systems.