Should the Government Subsidize Supply or Demand in the Market for Scientists and Engineers?
Published Date
Copyright 2001
ISBN 0262600412
DOI 10.1086/ipe.1.25056146
This paper suggests that innovation policy in the United States has erred by subsidizing the private sector demand for scientists and engineers without asking whether the educational system provides the supply response necessary for these subsidies to work. It suggests that the existing institutional arrangements in higher education limit this supply response. To illustrate the path not taken, the paper considers specific programs that could increase the numbers of scientists and engineers available to the private sector.
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Copy CitationPaul M. Romer, Innovation Policy and the Economy, Volume 1 (MIT Press, 2001), chap. 7, https://www.nber.org/books-and-chapters/innovation-policy-and-economy-volume-1/should-government-subsidize-supply-or-demand-market-scientists-and-engineers.
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Working Paper
This paper suggests that innovation policy in the United States has erred by subsidizing the private sector demand for...