The agricultural knowledge system : appropriate roles and interactions for the public and private sectors

Abstract

For over one hundred years, Land Grant Universities (LGUs) have pushed the frontiers of knowledge; have translated new knowledge into practice for the benefit of farmers, agribusiness and consumers; and have prepared the next generation of agricultural scientists and entrepreneurs. Historically, there have been strong arguments for public investment in such knowledge generation and transfer activities. The basic argument is that knowledge is by nature a "public good" and, therefore, the private sector would be unwilling to invest in fundamental research. The public sector should do so instead. In this way, new concepts, processes, techniques and materials could be developed and flow in the economy with positive social welfare effects.