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Ninth Level Ireland » Blog Archive » Promoting Research and Development: The Government’s Role

Ninth Level Ireland » Blog Archive » Promoting Research and Development: The Government’s Role.

Promoting Research and Development: The Government’s Role

“… Governments in many countries directly support scientific and technical research, for example, through grant-providing agencies (like the National Science Foundation in the United States) or through tax incentives (like the R&D tax credit). In addition, the governments of the United States and many other countries run their own research facilities, including facilities focused on nonmilitary applications such as health. The primary economic rationale for a government role in R&D is that, absent such intervention, the private market would not adequately supply certain types of research …” (more)

[HT: Philip Lane]
[Ben S Bernanke, Federal Reserve System website, 16 May]

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