Date of Award:

1966

Document Type:

Thesis

Degree Name:

Master of Science (MS)

Department:

Economics and Finance

Advisor/Chair:

Leonard J. Arrington

Abstract

Research and development (R&D) play an increasingly important role in the economy of the United States. Total expenditures for R&D during the decade of the 1950's were greater than in the entire history of the United States previous to that time. As a percent of gross national product, R&D has grown from 0.2 percent in 1921, to 0.4 to 0.6 percent in the 1930's and 1940's, and is now more than 3 percent.1

Much has been said of the impact that the growth of R&D has on the general economy. R&D had also had a significant economic and sociocultural impact on the local areas of R&D concentration--an aspect of R&D which is difficult to measure and frequently ignored. Although a general view of R&D in the United States as whole is given, the present study is mainly concerned with the economic impact of R&D on a local area. Although not exhaustive, this study represents and attempt to gain information in a vitally important area of the economy which has generally been ignored.

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Economics Commons

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