Sat Stats

Sat Stats

Taylor:

...government used to dominate funding for basic research, accounting for 70% of the total in the 1960s and 1970s, and for 60% of the total as recently as the early 2000s. But the rise in overall US business R&D spending has “basic” research spending by business as well. Now, it looks as if basic R&D spending by business is about to exceed that from the federal government.




On Hurricanes:

Norberg:

Norberg then noted that in the classical liberal tradition it is a given that “we don’t know everything – nobody does,” and therefore it takes trial and error, a discovery processs, to find out what works and what doesn’t. And this is risky and costly but necessary. Unfortunately, a risk-averse culture dominates “in many businesses and certainly in government,” said Norberg. “Many are so conservative they wouldn’t let anyone do anything for the first time.”