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Talk I gave at WIT Research Day 13th April 2011 on Irish Reseaerch Funding Policy, focused on its reference to non-linear theories of Knowledge Production. Draws on my doctoral research that did an analysis of public research policy documents in Ireland 2005-2008. Ireland in this period made the case for huge increases in HERD (funding for R&D in Higher Education), and implemented this from 1998 onwards primarily via the HEA PRTLI and SFI. My case is that this was done without a proper analysis of what impact on the knowledge economy was planned for, or how it could be measured. Now with less money available, we need to revisit the process, make critical decisions, and create clarity for ongoing funding.