One problem we face in policymaking is the danger of having technology develop faster than the legal and regulatory system can react, potentially risking safety as well as efficient development and testing.

America's downgrade may serve as a wakeup call for its policymakers. It is an unambiguous and loud signal of the country's eroding economic strength and global standing. It renders urgent the need to regain the initiative through better economic policymaking and more coherent governance.