Sound in the Age of Mechanical Reproduction Book

Kealey combines economic history, public choice theory, and economics in this insightful work. The Economic Laws of Scientific Research is a wide ranging and ambitious book, but Kealey is up to the challenge. The book addresses a few fundamental questions about scientific research. Namely, is it necessary for the government to fund scientific research? Where does new technology tend to come from? How have past civilizations settled these questions?

Kealey frames the book in the context of two "visions" of scientific research. The mainstream vision, most eloquently stated by Francis Bacon, follows the so called "linear model" of scientific research. This model states that from pure science flows applied science and technology, followed by wealth, with a healthy injection of government funds into the first two steps.

The second vision, which Kealey attributes to Adam Smith, holds that new technology, and wealth, tends to flow out of innovation from pre-existing technology, and not primarily from pure scientific research. Even so, Smith did not think that government funding was a necessary precondition to get the advantages of technological innovation, or even scientific research.

The book then dives into an in-depth analysis of the history of scientific research, and government's relationship with it. Kealey finds that technological and scientific growth comes most readily with a free market, and a policy of laissez-faire. Smith's hypothesis is shown, empirically, to hold weight. Innovation and new technology develops from those working in the industry, and those that have a vested interest in the increased productivity that can result. When it pays to fund research, private organizations (and industry) do. Scientific progress and innovation has no necessary relationship with the government, despite the institutions that persist today.

Kealey also spends some time analyzing how the state came to be so heavily involved with science. It began when various European countries attempted to emulate the economic success of Great Britain (whose science was overwhelmingly funded from industrial and private sources), but substituted state management and guidance. In addition, war often led to a call for more government funding and management of science for defense purposes (as happened in the United States during the Civil War, World War One, World War Two, and the Cold War).

Ultimately, the purpose of scientific research and advancement is more wealth, prosperity, and happiness. Kealey shows that the best and easiest route to this is through a policy of laissez-faire in scientific research, and not one of government intrusion. Smith is proved correct, and Bacon's vision ought to be left in the dust bin of history .