Published on Mar 21, 2012
Research that Pays Off:
The Economic Benefits of Federally Funded R & D
Friday, March 16, 2012
9:30 -11:00 a.m.
House Natural Resources Committee Hearing Room
Longworth House Office Building 1324
In a 1988 national address, President Reagan asked Congress to increase spending on research, calling it "an indispensible investment in America's future." President Obama has said science is "essential for our prosperity, our security, our health, and our environment." But the federal share of research spending is now half of what it was in the 1950s. With China's investment in state-funded R&D on track to eclipse that of the U.S. in coming decades, our global status as number one in science is at risk. What consequences will this have for our long-term economic productivity and the future of American industry? In this luncheon briefing, an engaging panel will discuss the critical contributions that federal R&D have made to American industry in recent decades, how federally-funded R&D could continue to return dividends, and what effect this investment could have on long term economic prosperity. It turns out that many of the great economic engines of recent times had their start as federally funded initiatives.
Vijay Vaitheeswaran, Correspondent, The Economist
Dr. Fred Block, Research Professor of Sociology, University of California at Davis
Dr. Katie Hunt, R&D Director, Innovation Sourcing & Sustainable Technologies, The Dow Chemical Company
Simon Tripp, Senior Director, Technology Partnership Practice, Battelle Memorial Institute