Raising R&D levels may be a good thing for the world economy, but not necessarily for the spending country. Of course, national R&D policies might not necessarily be good for the global economy either. There is a powerful tendency, everywhere in the world, to believe that national policies should be directed to the national development of a very small number of technologies, usually three, and usually the same three: nanotechnology, information technology and biotechnology. Replicating such a limited portfolio around the world is not a sensible policy for global progress. There are, ironically and unfortunately, few things less innovative than innovation policies.
November 17, 2008
Uninnovative innovation policies
David Edgerton writes about what he aptly calls the "techno-nationalist thinking and fantasies" driving research and development government policies around the world: