Author Archives: Ben S. Bernanke

Promoting Research and Development The Government’s Role

This article is in Affordable National Security, Summer 2011

The rationale for federal support for basic research is well established, but the best policy for implementing this principle remains open to debate. The Nobel Prize–winning economist Robert E. Lucas Jr. wrote that once one starts thinking about long-run growth and economic development, “it is hard to think about anything else.” Although I don’t think […]