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R&D comes from the private sector and from government. Take away either and we might as well declare ourselves a second class nation.
The only relevant argument is which R&D is productive. After all, government paid for something that had no value - except maybe to artillerymen. It was called the computer. The resulting artillery charts were too few too late. Therefore government R&D is not productive?
Well, let's see. The computer was started in the early 1940s. Did almost nothing until the 1960s. And only started making serious economic ROI after 1990s. That proves government R&D is useless?
The only valid question is which R&D is money wasted. Unfortunately, many who would answer that question do not even understand the difference between basic research and application research.
Now that so many companies have sold off or closed basic research facilities (ie Bell Labs is owned by a French company; Bendix labs no longer exist because basic R&D cannot be measured on any spread sheet), then government R&D has become that much more important.
The question is not whether government should do R&D. The question is why so many American companies no longer do it. Much if not most R&D in General Electric is in finance games. How to maximize profits rather than make better products.
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