Innovation has powered America’s economy, creating good jobs and a high standard of living. Yet, the U.S. share of innovation-based industries is in decline, jeopardizing our status as the world’s innovation leader. And one reason is that the United States has been unable to produce enough...

Well functioning Markets for Technology (MFT) allow inventors to sell their inventions to others that may derive more value from them. We argue that the growing reliance on science in inventions enhances MFT. In addition to higher quality inventions, reliance on science may enhance gains from...