In work published in the 1980's Yujro Hayami and I elaborated a theory of institutional innovations in which institutional changes are induced, on the demand side, by changes in relative resource endowments and technical change and, on the supply side, by changes in cultural endowments and...

In the new science and technology policy literature that emerged in the early 1980s it was held, while public support for science is appropriate, public support for technology development represents an unproductive use of public resources. The perspective that emerges in my recent book,...