Thursday, June 20, 2013

The government might be more helpful than you think

"Of the roughly 100 most important innovations from 1971 to 2006, as identified by R&D Magazine, almost 90 percent depended heavily on federal research support, according to Mazzucato. And whatever big pharmaceutical companies might say about the risks they take and amounts they spend to develop new drugs, most of the really innovative discoveries the past few decades have come from publicly funded laboratories."

Gee, and I thought the rugged individual Thomas Edison type was out there making the world a better place for us.  Turns out it's a team effort.

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