The CPB [Corporation for Public Broadcasting] was created “to encourage public telecommunications services which will be responsive to the interests of people.” Of course: people’s interests, not people’s desires. The market efficiently responds to the latter. Public broadcasting began as a response to what progressives nowadays call “market failure.” This usually means the market’s failure to supply what the public has not demanded but surely would demand if it understood its real “interest.”
The results indicate that scientists, engineers or technicians were not well-represented among the cadre of important British inventors, and their contributions remained unspecialized until very late in the nineteenth century. The informal institution of apprenticeship and learning on the job provided effective means to enable productivity and innovation. For developing countries today, the implications are that costly investments in specialized human capital resources might be less important than incentives for creativity, flexibility, and the ability to make incremental adjustments that can transform existing technologies into inventions and innovations that are appropriate for prevailing domestic conditions.