The Rate and Direction of Inventive Activity Revisited

The Rate and Direction of Inventive Activity Revisited

Josh Lerner and Scott Stern

Print publication date: 2013

ISBN: 9780226473031

Publisher: University of Chicago Press


While the importance of innovation to economic development is widely understood, the conditions conducive to it remain the focus of much attention. This volume offers theoretical and empirical contributions to questions relating to the economics of innovation and technological change while revisiting the findings of a classic book. Central to the development of new technologies are institutional environments, and among the topics discussed here are the roles played by universities and other nonprofit research institutions, and the ways in which the allocation of funds between the public and private sectors affects innovation. Other chapters examine the practice of open research and how the diffusion of information technology influences the economics of knowledge accumulation.

Table of Contents


Josh Lerner and Scott Stern

I Panel Discussion: The Impact of the 1962 Rate and Direction Volume, a Retrospective

1. Why Was Rate and Direction So Important?

Nathan Rosenberg and Scott Stern

II The University-Industry Interface

III Market Structure and Innovation

IV The Sources and Motivations of Innovators

8 Did Plant Patents Create the American Rose?

Petra Moser and Paul W. Rhode

V Panel Discussion: Innovation Incentives, Institutions, and Economic Growth

VI The Social Impact of Innovation

VII Panel Discussion: The Art and Science of Innovation Policy