Creating the Market University: How Academic Science Became by Elizabeth Popp Berman

By Elizabeth Popp Berman

American universities this present day function monetary engines, appearing the medical study that would create new industries, force monetary development, and hold the USA globally aggressive. yet just a couple of many years in the past, those comparable universities self-consciously held themselves except the realm of trade. Creating the industry University is the 1st booklet to systematically learn why educational technological know-how made any such dramatic movement towards the marketplace. Drawing on large historic study, Elizabeth Popp Berman exhibits how the government--influenced via the argument that innovation drives the economy--brought approximately this transformation.

americans have a protracted culture of creating heroes out in their inventors. yet ahead of the Sixties and '70s neither policymakers nor economists paid a lot awareness to the serious fiscal function performed by way of innovation. besides the fact that, in the course of the overdue Nineteen Seventies, a confluence of events--industry situation with the perceived deterioration of innovation within the usa, a becoming physique of monetary learn on innovation's value, and the stagnation of the bigger economy--led to a extensive political curiosity in fostering invention. The coverage judgements formed via this transformation have been diversified, influencing arenas from patents and taxes to pensions and technology coverage, and inspired practices that may concentration particularly at the monetary worth of educational technology. by means of the early Nineteen Eighties, universities have been nurturing the swift progress of parts comparable to biotech entrepreneurship, patenting, and university-industry study centers.

Contributing to debates in regards to the courting among universities, executive, and undefined, Creating the industry University sheds gentle on how wisdom and politics intersect to constitution the economy.

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Economists know that there are gains from trade to be had when countries or individuals have comparative advantage. t What this means is that one country might be better at producing a number of goods compared to another. However, if it focuses its attention on producing the good in which it has a comparative advantage, both countries can gain from trade and the world economy will be in a better state. By focusing on production of one good at the expense of others, countries move resources from the production of one good to another.

Sophie is speaking like a policy advisor: she is making a claim about how she would like to change the world. Pascale’s is making a positive statement. Positive statements are descriptive. They make a claim about how the world is. Positive statements have the property that the claims in them can be tested and confirmed, refuted or shown to not be provable either way. A second type of statement, such as Sophie’s, 24 PART 1 INTRODUCTION TO ECONOMICS is normative. Normative statements are prescriptive.

D. Prohibiting smoking in public places. e. Imposing higher personal income tax rates on people with higher incomes. f. Instituting laws against driving whilst under the influence of alcohol. 10 In what ways is your standard of living different from that of your parents or grandparents when they were your age? Why have these changes occurred? 2 THINKING LIKE AN ECONOMIST INTRODUCTION E very field of study has its own language, its own processes, its methods of discovery and its own way of thinking.

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