The Economics of Science and Technology: An Overview of Initiatives to Foster Innovation, Entrepreneurship, and Economic Growth
Springer Science & Business Media, May 31, 2002 - Business & Economics - 135 pages
Science and technology have long been regarded as important determinants of economic growth. Edwin Mansfield (1971, pp. 1- 2), a pioneer in the economics of technological change, noted: Technological change is an important, if not the most important, factor responsible for economic growth . . . without question, [it] is one of the most important determinants of the shape and evolution of the American economy. Science and technology are even more important in the "new economy," with its greater emphasis on the role of intellectual property and knowledge transfer. Therefore, it is unfortunate that most individuals rarely have the opportunity to explore the economic implications of science and technology. As a result, the antecedents and consequences of technological change are poorly understood by many in the general public. This lack of understanding is reflected in a recent survey conducted by the National Science Board (2000), summarized in Science & Engineering Indicators. ' As shown in Table 1. 1, the findings of the survey indicated that many Americans, despite a high level of interests in such matters, are not as well-informed about technological issues as they are about other policy issues. As shown in the table, individuals self assess, based on a scale from 1 to 100, their interest in science and technology policy issues as being relatively high, yet they self assess their knowledge or informedness about these issues relatively lower.
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The Economics of Science and Technology: An Overview of Initiatives to ...
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academic agencies Albert applied research Audretsch basic research Bush Chapter competitive Congress defense economic growth economics of science Entrepreneurial Process established evaluation federal government federal laboratory federal R&D Figure firm's fundamental GPRA Griliches important increase industrial R&D innovation process investments in R&D Jaffe Link manufacturing marginal private cost marginal private return market failure National Science Board National Science Foundation NIST output patents percent policy makers policy mechanisms President private rate private sector productivity growth provides public accountability public policy R&D activity R&D expenditures R&D funding R&D investment R&D performed R&E tax credit rate of return research and development research partners research partnerships Research Triangle Foundation return to R&D RJVs role SBIR science and technology Science—the Endless Frontier SEMATECH Semiconductor Research Corporation small firms social rate Tassey Tax incentives technical technology policy total factor productivity Trajtenberg U.S. industrial universities Vannevar Bush Weights and Measures