Wealth from Knowledge Revisited

Luke Georghiou, J. Stanley Metcalfe, Michael Gibbons, Tim Ray and Janet Evans

Chapter 1 in Post-Innovation Performance, 1986, pp 9-30 from Palgrave Macmillan

Abstract: Abstract As with this volume, Wealth from Knowledge was concerned with the nature of technological innovation.1 Although the book itself was published in 1972, the research upon which it is based was carried out primarily during the period 1966–70. It coincided with a period during the mid- to late 1960s when science policy exhibited one of its periodic surges of activity. There was at this time much concern in political circles with the growth of science and with the implications of this for the future funding of scientific research and it was during these years that many Western countries took their first, somewhat tentative, steps towards the planning of science. In Britain, as well as in the USA, France and West Germany, it was part of the conventional wisdom that economic growth was the concrete result of previous investment in scientific research. To many, the incidence of rapid economic growth after the Second World War was perceived to be the more or less direct result of the application to industry of scientific discoveries and inventions made during the war by scientists pressed into military service. More science it seemed, was an essential prerequisite to sustained economic performance.

Keywords: Technological Innovation; Innovation Process; Technical Change; Science Policy; Market Niche (search for similar items in EconPapers)
Date: 1986
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-349-07455-6_2

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DOI: 10.1007/978-1-349-07455-6_2

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