Thursday, June 12, 2008

Paul Romer comments in a blog

A quote fromPaul Romer explains why we need more science PhDs than we think we do:
"Whenever the social return to some activity is greater than the private return, there is a clear justification for subsidizing the activity."

Paul Romer is one of the stalwarts of 'New Growth Theory' and some of his ideas are presented here,here and here.

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