Businessweek on Government Spending & Innovation
By lucas@endneoliberalism On 8 Apr, 2013 At 11:20 PM | Categorized As Austerity, Neoliberal Alert, Sequestration | With 0 Comments

The GOP reluctance to raise taxes on the rich in order to save Americans from Austerity measures will have a serious impact on innovation. Contrary to the snake-handler’s opinion on economic growth, Businessweek shows that the private sector won’t make up for cuts in government science funding.

The main reason? Although Government investment in R&D is as half as the private sector, the government invests in breakthrough technologies, in moonshots, while the private sector makes slight improvements to already marketable goods.

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Picture Credit: Medill DC (CC BY 2.0)

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