David Rotman has authored an excellent article titled, “How to Measure the Returns on R&D Spending: Forget the Glorious Successes of Past Breakthroughs—the Real Justification for Research Investment is What We Get for Our Money. Here’s What Economists Say” in the MIT Technology Review. The article does a nice job explaining recent research concerning public funding of R&D and the return on investment to the public. The article notes that many questions are not answered. The article is available, here.
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