Given the draconian cuts to US federal funding for science, it’s worth asking some hard-nosed money questions: How much should we be spending on R&D? How much value do we get out of such investments, anyway?
To answer that, in several recent papers, economists have approached this issue in clever new ways. And, though they ask slightly different questions, their conclusions share a bottom line: R&D is, in fact, one of the better long-term investments that the government can make. Read the full story.
—David Rotman
This article is part of MIT Technology Review Explains, our series untangling the complex, messy world of technology to help you understand what’s coming next. You can read more from the series here.
If you’re interested in reading more about America’s economic situation, check out:
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+ How to fine-tune AI for prosperity.
+ People are worried that AI will take everyone’s jobs. We’ve been here before.
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