ABSTRACT
Scientific discovery, invention and innovation have become increasingly professionalized in the twentieth century, with the emergence of expensively equipped and professionally run laboratories in universities and business firms as the main centers of research activities. In the advanced OECD countries, business-funded research and development (R&D) now typically amounts to 1–2 percent of Gross Domestic Product (GDP), and academic research between 0.2–0.4 percent of GDP, more than 80 percent of which is typically funded from government sources.
