A Shift in Rhetoric on Innovation
Could a shift in thinking about innovation lead to a radical reduction in university research budgets? Time was, universities could tell a pretty simple story about innovation. Give money to talented people in universities (preferably “world-class” ones), and let them work on interesting projects. Through the magic of peer-reviewed publication, knowledge will be transferred, entrepreneurs will get cool ideas for products, and massive innovation and productivity growth will ensue. But while universities argue for better funding because technological booms based