ABSTRACT
Technology transfer poses interesting challenges to the economist in view of the profound implications it generates. The multiplicity of issues that technology transfer impinges upon gives it, in large part, its importance. This is particularly so since the areas it affects are important to an economy. One fundamental issue that arises as a consequence of technology transfer is that of global markets. Those early commentators, Marx and Engels (1967: 81-4), accurately anticipated that with modern industry we would have the ‘universal inter-dependence of nations’. They further added: ‘The intellectual creations of individual nations become common property.’
