- Original Message -
From: Eric Crampton [EMAIL PROTECTED]
The upshot isn't that
government science is entirely ineffective, it's that it displaces private
science spending dollar for dollar. The question then isn't how effective
government science is, it's how effective the private
http://www.observer.co.uk/economy/story/0,1598,787908,00.html
How the Greenspan bubble burst William KeeganSunday September 8,
2002The Observer
There was a period
during the chancellorship of Nigel Lawson when some Treasury officials favoured
the 'spritzer' as a drink. This is neither
As I remember the standard neo-classical answer to this is that the main
source of endogenaity isn't ability bias but discount rate bias - - that
people with below average discount rates get more schooling. So if the
question you want to know is the effect of attending high school vs.
only going
--- Francois-Rene Rideau [EMAIL PROTECTED] wrote:
Obviously, the government didn't forecast the
unpredictable path of discovery any more than the
private sector. Non sequitur.
No. I was using the story as neither a premise nor a
conclusion to an argument about funding sources. It
seemed as
