Our national investment in technology comes from both the private and public sector; however corporations today spend more on tort liability than they do on R&D. While the government already invests heavily in defense, space and health technologies, it is time to invest substantially in technologies related to power generation, nanotechnology, and materials science.
"In technology, we as a country already invest an enormous amount--for instance, in defense technology, space technology, health--but we also need to invest in some of the emerging technologies that are important at a basic science level such as fuel cell technology, power generation, materials science, automotive technology. We have to recognize that where we invest as a nation, both from a government standpoint but also from a private standpoint, those are the areas we've been most successful."
(Kudlow and Company, March 22, 2006)