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12 - Public Investment in the Knowledge Economy

from IV - The American Knowledge Economy

Published online by Cambridge University Press:  29 October 2021

Jacob S. Hacker
Affiliation:
Yale University, Connecticut
Alexander Hertel-Fernandez
Affiliation:
Columbia University, New York
Paul Pierson
Affiliation:
University of California, Berkeley
Kathleen Thelen
Affiliation:
Massachusetts Institute of Technology
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Summary

In the spring of 2020, the world was faced with a new, highly contagious and deadly disease, and at the time of writing, it is not clear what the long-term consequences of the Coronavirus pandemic will be. Epidemiological, medical and public health expertise rapidly became salient due to the potential life-and-death consequences of scientific technology and expertise. From its outset, the importance of knowledge and scientific expertise in government responses and national well-being provided a stark example of a more general underlying trend in the political economies of advanced industrialized capitalist democracies. Though without the same universal life-and-death stakes, changing technologies of production have been increasing the importance of knowledge as an input to economic progress and prosperity for the past forty years.

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The American Political Economy
Politics, Markets, and Power
, pp. 351 - 374
Publisher: Cambridge University Press
Print publication year: 2021

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