Last month, Senator Richard Durbin and Representative Bill Foster of Illinois introduced a bill that would fund basic science research at five federal agencies to the tune of $100 billion over the next decade, including guaranteed annual increases of 5 percent over and above inflation. Senator Durbin and Congressman Foster believe that this increased long-term funding for basic R&D is essential to keeping the U.S. competitive in the global economy. I couldn’t agree more.
But, given the hefty price tag, I think it’s important to point out that sustained government support is not just necessary for economic competitiveness. It’s also the most effective mechanism for generating the kind of deep innovation that changes our lives and the world.Read the full story »