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Additional resources for Science (Vol. 315, No. 5812, 2 February 2007)
Example text
Consequently, given 24 Science and Technology Policy the neo-classical economic view of the world in which firms try to maximize their profit, total S & T effort is likely to be less than socially optimal and the pattern of effort distorted unless government support is given to bring (marginal) private gains into line with (marginal) social gains. Favourable overs pills will be greater in some industries - possibly those that are more purely competitive in nature with many small firms than is the case of monopolistic larger ones.
B. Williams), Macmillan, London, pp. 96-115. (b) Bright, J. and Schoeman, M. (1973), A Guide to Practical Technological Forecasting, Prentice-Hall, Englewood Cliffs. (c) Byatt, I. and Cohen, A. 4, HMSO, London. (d) OECD (1967), Technological Forecasting in Perspective, OECD, Paris. 26 Smith, Adam (1776), Wealth of Nations. 27 Malthus, T. R. (1798), An Essay on the Principle of Population as 4Jfects the future improvements of Mankind. 28 Ricardo, D. (1817), The Principles of Political Economy and Taxation, 1st edn; (1821), 3rd edn.
But in the end, research must be pushed through to the development and technology stage and used if it is to contribute to economic growth or economic welfare. As Carter and Williams have said: 'It is easy to impede growth by excessive research, by having too high a percentage of scientific manpower engaged in adding to the stock of knowledge and too small a percentage engaged in using it. '10 Differences of opinion exist about the extent to which a government should financially support the development of new products.
Science (Vol. 315, No. 5812, 2 February 2007)
by Donald
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