The 'swing of the pendulum' from public to market support for science and technology: Is the U.S. leading the way?

A major shift in the financial and structural backing from reliance on public science to a stronger emphasis on 'market-based' incentives for R&D and innovation in science and technology by the private sector is analysed in a historical perspective. This change is largely driven by the perception of a policy change by the U.S., which hugely relies on private incentives and venture-capital investments, which are particularly concentrated on high-technology sectors.