Why Basic Science Matters for Economic Growth
Public investment in basic research will pay for itself.
IMFBlog2021-11-01T16:03:04-04:00October 6, 2021|
IMFBlog2019-03-27T10:48:09-04:00March 31, 2016|
By Vitor Gaspar and Ruud De Mooij
Versions in عربي (Arabic), 中文 (Chinese), Français (French), 日本語 (Japanese), Русский (Russian), Español (Spanish)
Imagine how three-dimensional printing, driverless cars and artificial intelligence will change our future. Or think of how developments in information technology, e-commerce and the sharing economy are already changing the way we learn, work, shop, and travel. Innovation drives progress and, in economic terms, determines productivity growth. And productivity growth, in turn, determines prosperity. It impacts our lives and well-being in fundamental ways: it determines where and how long we live; it determines our quality of life. […]