The Economics of Scientific and Engineering Manpower

Questions about the "adequacy" of both the quantity and quality of scientific and engineering manpower to meet private and social needs have remained at the forefront of manpower discussions for almost two decades. Mr. Hansen's paper attempts to define some of the issues in the discussion of "shortages" by surveying the various positions taken, alternative approaches to research in the field, and the analytical efforts of economists. It then explores in more detail the projection approach and subsequently proposes the rate-of-return approach to provide new insights into these issues. Finally, the paper questions the reasons for the great concern about scientific and engineering manpower and the direction of what little research there has been in this field. Mr. Moser comments on the contrasts between the American and European scenes and the role of the rate-of-return approach for estimating future as well as current needs. Mr. Brown remarks on the difficulties of taking into account a number of noneconomic factors in labor market behavior and questions whether it is easier to determine future demand, future wage rates, or future supply.