17.3. ANALYSIS OF INVESTMENT IN BASIC RESEARCH
In the United States, the federal government continues to be the primary source of basic research support, providing nearly three-fifths of the total funding (Science and Engineering Indicatos, 2006). This is quite understandable. Results of basic research are a property of the commons, and these results are shared widely and without regard to commercialization. Since no property rights can normally be attached to the basic research output, significant investment by industry in basic research is unlikely. Table 17.4 shows percentage of funding by the performing sector for different countries. Of the $340 billion spent on R&D in 2006, only 18 percent was for basic research, as shown in Figure 17.7 ...
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