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'Dr Kealey's brave, entertaining and learned book makes a powerful case for his unpopular views. It must give pause to any open-minded student of science policy.' - R.C.O. Matthews 'Not since J.D. Bernal has a practising British scientist challenged conventional arguments about the funding of science so originally, and so powerfully.' - David Edgerton, Imperial College Does government funding of science promote economic and cultural growth? This burning question has come to dominate political and academic thought. The evidence seems mixed: Japan flourishes economically neglecting science while the USSR and India who actively promoted government-funded science have declined. The purpose of this book is to assess the myth that government-funded science works economically. Supported by historical argument and international contemporary comparison, Terence Kealey argues that the free market approach rather that of state funding has proved by far the most successful in stimulating science and innovation.

The Economic Laws of Scientific Research

Acknowledgements and Apologies - Francis Bacon and Adam Smith - Research and Development in Antiquity - The so-called Dark Ages - The Commercial Revolution - The Agricultural Revolution -The Industrial Revolution - Economic History since 1870 - Science Policies of the 20th Century -The Economics of Research: Why the Linear Model Fails - The Real Economics of Research - The so-called Decline of British and American Science - Dr Pangloss was Right - Index