What Role, If Any, Should The Government Play In Innovation Policy?

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  • July 11, 2012 at 6:38 pm #227

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    Funding basic research is incredibly important. Innovation always has a large degree of chaos and unpredictability in it. In 1950, 55% of all R&D was federally funded. 2012, ~20%. Does this mean that private industry has figured out how to successfully manage R&D without government aid? What about long-term R&D? What about R&D that won’t show returns/results in the lifetimes of investors and stakeholders? Can we rely on the private sector to fund and maintain long-term programs on its own?

    What is the government’s role in generating incentives/demand for long-run innovation in the private sector? Does the government have a role in taking up long-run support if the private sector fails to do so? To what extent?

    Discuss.

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    • This reply was modified 5 years, 5 months ago by  Administrator.
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