Originally published in 1973 this book applies economic analysis to scientific research and to industrial reserch and development and analyses the interactions between these activities and economic activities in general. The book begins by looking at the relationships between science and technology and then:

• Analyses research and development in manufacturing industry
• Explains the different levels of expenditure in research and development in different industries and the role of such expenditure in the growth of firms
• Looks at the distribution of science and technology expenditure
• Discusses the international transfer of technology

The book draws on evidence from several fields of study and imposes a theme upon the variety of evidence.