The Economic Laws Of Scientific Research by Terence Kealey
Argues that scientific research operates effectively as a private good and is better funded and directed by markets than by the state. Drawing on economic theory and historical case studies, it challenges the linear model of innovation and the public-goods rationale for government support, claiming that public funding crowds out private R&D and distorts priorities. It advocates reducing state involvement, strengthening property rights, and relying on decentralized, industry-led incentives to drive discovery and innovation.
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- Published
- 1996
- Nationality
- British
- Length
- Medium
- Pages
- 270-300
- Original Language
- English
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