Government as innovator? You bet!
Submitted by Edgar on Wed, 04/23/2014 - 6:00am
By Lee Hamilton.
Both government and industry are needed to solve big problems. Collaboration puts us in a stronger competitive position than either sector acting alone. Five years ago, the federal government spent $169 billion to fund basic research and development. This fiscal year, it’s down to $134 billion. People who believe in public belt-tightening applaud drops like that. I understand why: there are many reasons to reduce government spending. But in this case they’re wrong. We need to boost the government’s investment in R&D, not slash it.
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