Technology & Economics

Papers Commemorating Ralph Landau's Service to the National Academy of Engineering

NATIONAL ACADEMY PRESS
Washington, D.C.
1991



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Technology & Economics: Papers Commemorating Ralph Landau's Service to the National Academy of Engineering Technology & Economics Papers Commemorating Ralph Landau's Service to the National Academy of Engineering NATIONAL ACADEMY PRESS Washington, D.C. 1991

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Technology & Economics: Papers Commemorating Ralph Landau's Service to the National Academy of Engineering NATIONAL ACADEMY PRESS 2101 Constitution Avenue, NW Washington, DC 20418 The National Academy of Engineering was established in 1964, under the charter of the National Academy of Sciences, as a parallel organization of outstanding engineers. It is autonomous in its administration and in the selection of its members, sharing with the National Academy of Sciences the responsibility for advising the federal government. The National Academy of Engineering also sponsors engineering programs aimed at meeting national needs, encourages education and research, and recognizes the superior achievements of engineers. Dr. Robert M. White is president of the National Academy of Engineering. This volume consists of papers and speakers' remarks during a commemorative symposium in honor of outgoing NAE Vice President Ralph Landau. The symposium, entitled "Technology and Economics," was held 4-5 April 1990. The interpretations and conclusions expressed in the symposium papers are those of the authors and are not presented as the views of the council, officers, or staff of the National Academy of Engineering. Library of Congress Catalog Card No. 90-63562 International Standard Book Number 0-309-04397-2 Additional copies of this publication are available from: National Academy Press 2101 Constitution Avenue, N.W. Washington, D.C. 20418 S-258 Printed in the United States of America

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Technology & Economics: Papers Commemorating Ralph Landau's Service to the National Academy of Engineering Contents     Foreword   v     Ralph Landau: Engineer, Entrepreneur, Scholar   1     How Competitiveness Can Be Achieved Ralph Landau   3 * * * * * The following papers were presented at a Symposium on Technology and Economics in honor of Dr. Ralph Landau for his contributions toward increasing the understanding of interactions of technology itsand economics.     Capital Formation and Economic Growth Michael J. Boskin and Lawrence J. Lau   47     Investing in Productivity Growth Dale W. Jorgenson   57     Technology and the Cost of Equity Capital George N. Hatsopoulos   65     Science and Its Applications: How to Succeed Michael Boudart   77

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Technology & Economics: Papers Commemorating Ralph Landau's Service to the National Academy of Engineering     Challenges to Agricultural Research in the Twenty-first Century Vernon W. Ruttan   85     Innovation in Chemical Processing Industries Ralph Landau and Nathan Rosenberg   107 APPENDIX   List of Symposium Participants   121

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Technology & Economics: Papers Commemorating Ralph Landau's Service to the National Academy of Engineering Foreword The papers published in this volume commemorate Ralph Landau's many years of service to the National Academy of Engineering. Over almost two decades, Ralph Landau served the NAE as member of the council, officer of the Academy, and in a variety of capacities as a vigorous intellectual contributor to the Academy's program. Ralph Landau is an innovator who combines the characteristics of a personable and valued colleague with those of a hard-driving leader. The NAE is a different organization for his having volunteered his time and efforts on its behalf. He has taken the lead on issues that range from membership policy, through the NAE's program on technology and economics, to the NAE's relationship with the National Academy of Sciences and the National Research Council. In no small way he was also responsible for the success of the Academy's 25th Anniversary Fund Drive, of which he was chairman. It has been a personal pleasure working with Ralph Landau and I am pleased that the institution can honor him with this volume. Six of the papers in the volume were presented at a symposium held in Ralph's honor on April 5, 1990, in Washington, D.C. The seventh paper, a contribution by Ralph Landau himself, is part of his continuing effort to build bridges between economists and engineers, to deepen our national understanding of the interactions of technology and economics. I would like to thank NAE staff members Melvin Gipson, Maribeth Keitz, H. Dale Langford, and Bruce Guile. Mr. Gipson took the lead organizing the symposium in Dr. Landau's honor and worked with Mr. Lankford, the NAE's editor, in bringing this book to fruition. Ms. Keitz provided primary support for both the symposium and the publication process. Dr. Guile, the director of the NAE's Program Office who has worked closely with Dr. Landau for the last six years, provided direction and oversight for the project. Robert M. White President, National Academy of Engineering

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Technology & Economics: Papers Commemorating Ralph Landau's Service to the National Academy of Engineering