Tim Phillips Today on VoxTalks Economics, three of the next

There is also the emergence of lithium ion batteries in the 1970s when the Department of Energy in the US decided to try to find solution to address the consequences of the oil shock. [...] And one of the most striking example of a patent that is funded by the government is a patent funded by the National Institute of Health that finds ways to modify pox viruses to then be injected into cancer patients, so that a neurological response is created in their body. [...] So the decline in publicly funded R & D happens from the 1960s, the heydays of NASA and the space race, to the present days to 2020. [...] And in particular, I find that republican presidents tend to be associated with very large increase in funding of R & D, and that is partly due to the fact that they increase funding for the Department of Defense and also for the National Science Foundation. [...] Now, what's going to be the case is that as a result of the capital loss that is induced by this destruction of physical capital, the output of the firm will become lower.