Abstract
How government regulation affects technological innovation—process and product—in the chemicals and allied products industry is apparently so elusive that it defies documentation. A Washington University (St. Louis) team of economists, lawyers, political scientists, and one chemical engineer has just spent nine months reviewing open on the issue over the past 15 years and concluded that there is no substantial body of theoretical or empirical literature that could shed light on the matter. What little actual data they did find concerned the impact of the 1962 amendments of the Food, Drug & Cosmetic Act on pharmaceutical innovation. The $72,000 project was funded by the National Science Foundation's R&D Assessment Program, and was headed by Christopher Hill, associate professor of chemical engineering at Washington University. (A report was issued recently.) NSF's R&D assessment program is designed to provide government policy makers with options, information, and analyses on how science can...
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