This research seeks to describe the continuing predicament of R&D funding in the U.S. and to provide support for a return to higher R&D spending as a proportion of GDP to maintain American leadership in innovation. Historically, government investment has funded most foundational scientific research leading to technological advances in…

In recent years the scope and application of intellectual property rights has been expanded remarkably in the area of medical research and development. This has strengthened the role of the private sector in developing and producing new medicinal drugs. However, medical research is usually close to a pure public good and thus not efficiently…