Many warn that the next stage of globalization--the offshoring of research and development to China and India …--threatens the foundations of Western prosperity. But in The Venturesome Economy, acclaimed business and economics scholar Amar Bhidé …--prosperity at home, and why trying to maintain the U.S. lead by subsidizing more research or training more scientists will do more …

evidence of displacement of private funds. In view of these issues, we offer suggestions for future research and raise some new …