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January 2022

Listening to the critics: Enlarging the discussion of policy for science-based development

Author(s): Raymond, S. U.

Journal/Book: Science Based Economic Develo. 1996; 798: 2 East 63RD St, New York, NY 10021. New York Acad Sciences. 320.

Abstract: While the long-term evidence supports the importance of science and technology (S&T) for economic development, some critics have argued that government SET programs are not useful. Critical literature concerning the value of S&T policy if reviewed and the three main arguments of this work are summarized: (1) There is no clear empirical evidence linking S&T to short-term economic growth. (2) States should nor intervene in mis sector of the economy. They should simply set a macroeconomic and fiscal context that supports technological development, leaving the support of particular technologies co the marker. (3) There is no compelling evidence Linking particular public programs (incubators, public venture capital, etc.) and economic growth.

Note: Article Raymond SU, New York Acad Sci, 2 E 63RD St, New York,NY 10021 USA

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