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Discovery, Invention and Innovation

Abstract

This book proposes major changes in the United States’ government. Because these changes would require a long gestation period to gain public acceptance, they are proposed for a forecast of the United States’ political economy in the middle of the 21st century. During this period, the United States and other advanced societies will complete the transition from industrial to informational societies. Consequently, the goal of the new governmental design will be to promote the political economy of informational society.

Keywords

Political Economy Intellectual Property Economic Incentive Trade Secret Unknown Objective 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

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Notes and References 1

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    One of the first to recognize this fact and propose a new role for government was V. Bush in: Bush, V., 1945, Science, the Endless Frontier, A report to the President on a Program for Postwar Scientific Research, US Office of Scientific Research and Development. Bush’s views have become the accepted wisdom, for example see: Spiegel-Rosing and D. de Solla Price(eds), 1977, Science, Technology and Society, (Sage Publications: London)Google Scholar
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    A considerable number of intellectuals believe the application of science to produce greater and greater threats is misdirected. For one such view compare Boulding’s article with the others in: Teich, A. H. and R. Thornton (eds), 1982, Science, Technology, and the Issues of the Eighties: Policy Outlook, (Westview Press, Boulder) Also see the Bulletin of the Atomic Scientists for numerous articles challenging the wisdom of a technological race for ever more sophisticated weapons.Google Scholar
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    There is a growing literature on this point. To some extent discussions of this point are a call for more funding for a particular type of research. For example see: Feigenbaum, E. A. and P. McCorduck, 1983, The Fifth Generation: Artificial Intelligence and Japan’s Computer Challenge to the world, (Signet: New York). Amusingly enough, the Japanese achieved only a fraction of the goals set out in the Fifth Generation Computer Project. See: Gross, N, 1992, A Japanese ‘Flop’ that became a launching pad, Business Week, Jun 8, pp 103Google Scholar
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    Indeed, imitation in business has now been given the colorful buzzword, benchmarking, which means searching the world to find the best practice to implement in the firm. To facilitate benchmarking clearing houses such as American Productivity and Quality Center have been established. For example, see: Altany, D., 1992, Benchmarkers Unite: Clearing house provides needed networking opportunities, Industry Week, Feb 3, pp 25Google Scholar
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    The problem in providing empirical support for this statement is finding a learning situation where technology changes slowly. Studies of tradition agriculture have indicated that traditional farmer’s decisions are approximately optimal. For example, see: Hopper, W. D., 1954 Allocation Efficiency in a Traditional Indian Agriculture, Journal of Farm Economics, 47 pp 611–24CrossRefGoogle Scholar
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    Innovation in the context of a single entrepreneur is mathematically a problem in estimation and control. Such problems are intractable, see: Aoki, M., 1967, Optimization of Stochastic Systems (Academic Press: New York). For an economic interpretation of this fact see: Norman, A. and D Shimer, 1993, Risk, Uncertainty and Complexity, Journal of Economic Dynamics and Control, forthcomingGoogle Scholar

Copyright information

© Kluwer Academic Publishers 1993

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