Abundance

by Ezra Klein

Beyond merely regulating technology, the state is often a key actor in its creation. An American who microwaves food for breakfast before using a smartphone to order a car to take them to the airport is engaging with a sequence of technologies and systems—the microwave, the smartphone, the highway, the modern jetliner—in which government policies played a starring role in their invention or development. Federal science spending is so fundamental to the overall economy that a 2023 study found that government-funded research and development have been responsible for 25 percent of productivity growth in the US since the end of World War II.18 “There is widespread agreement that scientific research and invention are the key driver of economic growth and improvements in human well-being,” the Dartmouth economist Heidi Williams said. “But I think researchers do a poor job of communicating its importance to lawmakers, and lawmakers do a poor job of making science policy a major focus.”19