The Download: measuring returns on R&D, and AI’s creative potential
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