What is it about?
Describes a depreciation effect in human skills that is due to technological innovations and show that this effect can be sufficiently important to justify taxation of R&D activities or at least to reduce the rational to subsidize R&D.
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Why is it important?
Most literature argues in favor of subsidizing R&D activities. This article calls attention to a neglected effect that can reduce that argument. This effect is a depreciation of skills that happen when they deal with new technologies.
Perspectives
Some policy makers think all is good about technological innovations. Some time those innovation and the pace in which it evolves implies costs to the human skills. Those costs may be time and effort to catch up with the new technologies. There are plenty of those situations on the real world.
Tiago N Sequeira
Universidade da Beira Interior
Read the Original
This page is a summary of: Human Capital and Overinvestment in R&D, Scandinavian Journal of Economics, September 2007, Wiley,
DOI: 10.1111/j.1467-9442.2007.00508.x.
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