Public goods create a peculiar dilemma: everyone likes the benefits, but paying for them is another matter. Economists call this the free-rider problem—people can enjoy protection, clean air, or herd ...
Overall, public R&D has a rate of return of 140-210%, they concluded. Crucially, this is a much higher estimate than the 30-70% rates of return economists calculate for private R&D, said Fieldhouse.
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