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AlwaysOn: "The future of innovation in the US"

Article link: The future of innovation in the US

Chuck Russell reports for AlwaysOn that “studies have indicated that 45-75% of all economic growth is directly attributed to innovation),” and that “the US government was responsible for funding 85% of all basic research.” Basic research, he argues, is underfunded. For the US government to maximize its social capital investment, it must contribute more to the development of basic research.

In the 1990’s, universities learned the real economic incentive is in the short-term rewards of applied research, where patents for technologies can be immediately applied in the public sector. Should this trend be reversed?

Further reading: NSF fact sheet: Linkages grow between research and innovation