17.8. SUMMARY
In summary, science and technology are closely interrelated. Investment in R&D is essential for economic development and for sustaining economic growth. The level of support should be determined by the social benefits of competing usages of the funds. The few clues that we have at present suggest that in the United States the benefits from increased support for R&D will be greater than the benefits that society will derive from competing usages of the funds.
Views on R&D expenditure and science policy, the topic discussed at the end of this chapter, naturally vary. Public policy decisions related to science policy and research expenditure affect resources available for conducting research and the emphasis on such research. Consequently, ...
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