Profits of Science
IN THIS SUMMARY
In Profits of Science, Teitelman journeys through the past 40 years with the story of how science, technology, and the financial markets have impacted the country. The author sketches out a broad scheme for understanding what kinds of firms generate innovation most effectively; the importance of economies of scale in a so-called information or postindustrial world, the effects of underlying science on the structure of industries; and the role government plays in the technological economy. Teitelman examines key technologies as television, microelectronics, computers, pharmaceuticals, radar, and biotechnology. He highlights the role of major players such as RCA, Raytheon, Du Pont, AT&T, Texas Instruments, Intel, Microsoft, and IBM.