Principles of Microeconomics / Unit 12 MIC 1107 short lesson, about 20 seconds
Funding, Tax Credits and Cooperative Research
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The idea
Governments also fund research directly, through universities, labs and grants, with results made public; give tax credits for private research; and sponsor cooperation among firms and universities.
In practice
Basic science with no product to patent is funded directly.
Where people slip
Direct funding costs taxpayers and can be steered politically; credits are cheap to administer but reward research that would have happened anyway.
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