We live in an uncertain world, yet a lot of research into the sustainability of welfare states is done in the context of certainty. There are good reasons why the analysis is mostly confined to a model of a certain world. <span style="color: #000000;">A full analysis of the sustainability of welfare states which includes...</span>

Economic growth is ultimately driven by advances in productivity. In turn, productivity growth is driven by R&D and by utilisation of the public knowledge pool. This public knowledge pool is generated by universities and public research institutions. Underutilisation by firms of results from...