Technology policy

There are a number of different approaches seeking to define the substance and scope of technology policy. According to the American scientist and policy advisor Lewis M. Branscomb, technology policy concerns the "public means for nurturing those capabilities and optimizing their applications in the service of national goals and interests". Branscomb defines technology in this context as "the aggregation of capabilities, facilities, skills, knowledge, and organization required to successfully create a useful service or product". Other scholars differentiate between technology policy and science policy, suggesting that the former is about "the support, enhancement and development of technology", while the latter focuses on "the development of science and the training of scientists". Rigas Arvanitis, at the Institut de Recherche pour le développement (IRD) in France, suggests that "science and technology policy covers all the public sector measures designed for the creation, funding, support and mobilisation of scientific and technological resources". Technology policy is a form of 'active industrial policy', and effectively argues, based on the empirical facts of technological development as observed across various societies, industries and time periods, that markets rarely decide industrial fortunes in and of their own and state-intervention or support is required to overcome standard cases of market-failure (which may include, for example, under-funding of Research & Development in highly competitive markets).