5min chapter

New Books in Finance cover image

Jonathan Haskel and Stian Westlake, "Restarting the Future: How to Fix the Intangible Economy" (Princeton UP, 2022)

New Books in Finance

CHAPTER

Esg

Public funding of research and development comes from the spillover idea. If you have a centralized series of decision makers who are going to decide that they're going to fund project X or Y, then people will try to influence those types of decisions in way that might potentially suit them. The example of ARPA is an attempt to have the centralized public funding in order to help with those spillovers.

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