by Lee H. Hamilton
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.
Let’s begin with the