Publisher's Synopsis
Governments are becoming more aware of the importance of technology in generating economic performance, and the extent of public intervention in the technological process has increased considerably since the war. This book looks at why and how this intervention should take place from the standpoint of economic theory. Stoneman begins by discussing the welfare framework and the relationship between technological change and economic performance. He then investigates the effects of technology policies in a theoretical framework that unifies invention, innovation, and diffusion. The emphasis on diffusion policies breaks relatively unexplored ground. Particular topics in technology policy are analysed, with chapters on patents, standards, risk uncertainty and finance, the international dimension, the defence sector, and employment. Finally, the past experiences of government interventions are reviewed and conclusions drawn.;This is a book for students taking courses in industrial economics, economic policy, or the economics of technological change, researchers and policy advisers in the field.
