F. M. Scherer is Aetna Professor Emeritus in the John F. Kennedy School of Government, Harvard University. Born in 1932, he received an A.B. degree with honors and distinction from the University of Michigan in 1954; an M.B.A. with high distinction from Harvard University in 1958; and a Ph.D. in business economics from Harvard University in 1963. His research specialties are industrial economics and the economics of technological change, leading to numerous publications, including books on Industrial Market Structure and Economic Performance (1970, 1980, 1990); Industry Structure, Strategy, and Public Policy (1996); Mergers, Sell-offs, and Economic Efficiency (1987, with David Ravenscraft); The Economics of Multi-Plant Operation: An International Comparisons Study; Innovation and Growth: Schumpeterian Perspectives (1984); and The Weapons Acquisition Process: Economic Incentives (1964).