Industry-University-Government Research Partnerships for Economic Development in the U.S.

Abstract

In a knowledge-based economy, technical progress is ultimately based upon progress in science and upon subsequent progress in technology. This linkage between science and technology has been called “scientific technology” - continuing progress in technology that directly uses progress in science. Scientific technology was the technical basis of the first industrial revolution in the eighteenth century and has continued to provide the technical basis for economic development in the world. During the twentieth century, research universities became the locus of scientific progress while industrial research was the locus of technological progress. At the same time, modern governmental R&D support became a major source of funds for scientific research and for much of the early development of scientific technology research. Thus universities, industry, and government R&D all have become important for fostering continuing progress in scientific technology for a knowledge-based economy.