Advance Australia?
Paul Romer (prominent US economist in growth theory):
"In the next century we're going to be moving back and forth, experimenting with where to draw the line between institutions of science and institutions of the market. People used to assign different types of problems to each institution. "Basic research" got government support; for "applied product development," we'd rely on the market. Over time, people have recognized that that's a pretty artificial distinction. What's becoming more clear is that it's actually the combined energies of those two sets of institutions, often working on the same problem, that lead to the best outcomes."
So what state is Australian science and innovation in? How do we measure it? How can Australian institutions improve their positions as innovators? Or should we just free-ride on countries who fund research more aggressively than us?
"In the next century we're going to be moving back and forth, experimenting with where to draw the line between institutions of science and institutions of the market. People used to assign different types of problems to each institution. "Basic research" got government support; for "applied product development," we'd rely on the market. Over time, people have recognized that that's a pretty artificial distinction. What's becoming more clear is that it's actually the combined energies of those two sets of institutions, often working on the same problem, that lead to the best outcomes."
So what state is Australian science and innovation in? How do we measure it? How can Australian institutions improve their positions as innovators? Or should we just free-ride on countries who fund research more aggressively than us?