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Rate of Discovery, Invention, and Innovation

With increased international competition and the proliferation of research universities worldwide, nations will maintain a high rate of spending for basic research to maintain a position on the frontiers of science. In order to transfer basic research more rapidly into marketable products, nations will innovate in the transfer of knowledge from research universities to the market. Consortia among private firms and among private firms and various levels of government will become commonplace to share the risk in developing new technology inventions. Because innovations in business organization and incentive systems are such an important part of maintaining a competitive edge, private firms will be systematically observed (representative samples) to evaluate potential innovations.


norman@eco.utexas.edu
Thu Jun 8 16:37:44 CDT 1995