Is There a Role for Government in R&D?

I think markets are great for taking products to market. Markets are also great for the quality of innovation. So if you want, if what you want is the quantity of R&D, you will probably need taxpayer subsidy because businesses won't invest all that you want. If we take a different type of innovation, something which is much more about just combining the right things,. That was not about deploying a huge amount of R & D capital. That was about coming up with a precisely right combination of two existing inventions and I think markets aregreat at doing that particular. And if you want successful innovations, you probably need a mixture of those two so you need some role for states and some role