Government funding crowds out private research

Cato adjunct scholars Terence Kealey and John Early join Ryan Bourne to discuss the pair's new Cato working paper Mission Lost: How NIH Leaders Stole Its Promise to America. Kealey and Early detail how the National Institutes of Health's shift from financing mission-led research to funding basic science has reduced its effectiveness in improving Americans' health, all the while crowding out cutting-edge commercial science, and funnelling taxpayer dollars to a range of questionable projects.

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