A Hidden Cost of Military Cuts Could Be Invention and Its Industries
Interesting NYT story today on Pentagon budget cuts and the potential impact on research and innovation that eventually trickles down to businesses, education and the economy as a whole.
A couple of good backgrounder links of note within the story:
- “… a recent analysis that $1 billion in spending on health care produced an economic benefit about 14 percent larger than spending on defense. The impact of spending on transportation, education and energy were even larger.”
- A recent study “of federal spending since World War II… found that the economic benefits from nonmilitary spending were at least 50 percent larger than those from defense spending during periods of normal growth.”
- A study of the government’s role in promoting innovation.