Throughout modern history, public financing has made possible some of the most important and impactful innovations society has enjoyed—from refrigeration to the Internet—and the spillover benefits have been incalculable. But what are the optimal ways for the public sector to intervene in the innovation process to maximize those benefits and solve big problems? Rob and Jackie explore these questions and the implications for science and industrial policy with Dr. Richard Lipsey, emeritus professor of economics at Simon Fraser University.

Mentioned:

• Richard G. Lipsey and Kenneth I. Carlaw, “Industrial Policies: Common Not Rare,” Discussion Papers dp20-11, 2020, Department of Economics, Simon Fraser University.