Question

Tech transfers: should the fed Gov’t keep subsidizing University patents?

You’re the lead economic analyst for a multi agency federal task force assessing federal grants to research universities that studies. Is subsidizing those types of studies with the hope that the technology transfer creates economic growth the best use of taxpayer money? Use whatever info or sources you can find to make the most socieconomically conscious argument for your position and present it to the rest of the taskforce

Answer 1

Yes.

Money spent on education and educational research is never wasted. Government subsidizes universities with the hope of generating economic growth. It is only because of these subsidies that the prospective researchers and budding educationalists are motivated to go into research and create something new.

In the absence of these subsidies, many students and researchers are demotivated because they are unable to arrange for required funds for their research. As a result of this many researchers leave their research in between, which is a big harm to the economy.

The government should never doubt money it has spent on education and research because even if 1 out of 10 students are able to create something striking, its benefits will help reap the efforts and money invested in no time.