From the back cover: In this insightful study, Professor Palda raises grave doubts about the ability of the federal government to fulfill its claims of improving economic conditions by stimulating technological innovation. Although the government points to alleged failures of the free market system when justifying its interventionist programmes, objective evidence does not support this view. Rather, such programmes have typically reduced economic efficiency. Professor Palda points out that the taxpayer faced with a burgeoning bill for innovation programmes, must scrutinize the motivation and structure of proposed inititiatives closely.

Technology can contribute to economic growth and productivity increases. Legislative activity over the past 25 or more years has created a policy for technology development. Because of the lack of consensus on the scope and direction of a national policy, Congress has taken an incremental approach aimed at creating new mechanisms to facilitate technological advancement in particular areas and making changes and improvements as necessary. Contents of this report: (1) Technol. and Competitive.; (2) The Fed. Role in Technology Development; (3) Legislative Initiatives and Current Programs: Increased R&D Spending: Industry-Univ. Coop. Efforts; Joint Industrial Research; Commercializing Federally Funded R&D; Different Approach?