In a recent article, Industry Week Magazine discussed the slowdown in seed money for new technological innovation. The author remarked that throughout its history the U.S. has always expanded the knowledge base and selected new options to fashion economic and social progress, but during the last decade the R&D share of the national economy has steadily shrunk. He attributes this decline in R&D spending to pressure to maintain profits in the face of rising costs, high interest rates, and regulatory constraints. Because of these cost pressures, industry has taken a hard look at R&D spending and demanded shorter term results.
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