17.2. TECHNICAL INNOVATION AND ECONOMIC DEVELOPMENT
Labor, capital investment, the availability of natural resources and raw materials, technical innovation, and management skills all contribute to high productivity and economic development in a nation. Here the discussion will focus on the role that R&D plays in technological innovation and economic development.
The discussion on the output of science and technology pointed out that R&D productivity to some degree can be measured by output in terms of scientific literature, patents, and the gross domestic product of each employed person. A general relationship or correlation between investment in R&D and these three entities seems to exist. This general correlation can never be high because ...
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