capital is positively influenced by the size of the R&D sector, sheds new light on innovation and growth as well as income …

may even reduce welfare. The reason is that it crowds out proprietary innovation which on net may reduce total innovation … in the long run. These effects would be reinforced if philanthropical innovation diverted people from other productive …

of highly valued products. In so doing, we suggest an innovation policy framework based on two pillars: (i) the … economy. We argue that the latter area has been overlooked in the policy discussion and that a coherent innovation policy …