In the past thirty years, the giving and receiving of grants has grown from a small, loosely organized club involving a few elite institutions and a few million dollars to a massive system accounting for more than $75 billion in annual expenditures and involving literally thousands of public and private organizations. This growth has resulted in the formation of a major social and economic system with its own rules and network of institutional relationships.This book analyzes the grant system in its entirety--its history, scope, social and economic impact, importance, and future. This broad approach serves as a good introduction to the grant system for those who are not familiar with it and provides a new, fresh perspective for those who know some aspects of it well.