Underwood: Guam would be wise to broaden its revenue streams - KUAM.com-KUAM News: On Air. Online. On Demand.

Underwood: Guam would be wise to broaden its revenue streams

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Guam should not continue to rely on just tourism and the military to drive the local economy. Speaking before the Rotary Club, University of Guam President Dr. Robert Underwood says the two main drivers are not going away, but future growth should also focus on the knowledge economy.

"That future is here. The knowledge economy is the conjunction or rapid technological change, the reliance on brain power to apprehend the changes, the application of entrepreneurial skills to examine economic possibilities, and the support of government and society," Underwood proclaimed.

Underwood says Universities are the platforms for the knowledge economy, and the top countries understand that.  But he questions whether it is really a priority for the US, saying, "While the rest of the world is supporting their universities in order to discern and profit from the future, we sometimes spend too much time wondering whether we should pay for university education or not. Sometimes I wonder how many people in Guam understand the possibilities of post-secondary education."

Dr. Underwood suggests that there is now a new concept of integrated universities that provide an entrepreneurial eco-system in which they are the key providers of innovation.

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