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Volume 7  Number 1  •  Summer 2002
All Issues:  

Science as a Market Process
By Allan M. Walstad
This article appeared in the Summer 2002 issue of The Independent Review

Scientific inquiry, like wealth creation and exchange, can be better understood using economic analysis. For scientists, like entrepreneurs in the commercial marketplace, are engaged in positive-sum rivalries and must answer to a bottom line, albeit one that defines success in non-monetary terms.