America Must Invest

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The following is excerpted from chapter 16 of Richard Duncan’s book, The Money Revolution, which is available via the link on this page.

“Basic research leads to new knowledge. It provides scientific capital. It creates the fund from which the practical applications of knowledge must be drawn. New products and new processes do not appear full-grown. They are founded on new principles and new conceptions, which in turn are painstakingly developed by research in the purest realms of science.”

Vannevar Bush in, Science The Endless Frontier, A Report to the President, Director of the Office of Scientific Research and Development, July 1945

The purpose of the final part of this book is to advocate that the United States grasp the opportunity that the money revolution has made possible by undertaking a government-financed investment program in 21st century industries and technologies on such a large scale that it would be certain to succeed.

This chapter will summarize why such a large-scale investment program is possible and explain why it is urgently necessary. It will also discuss its ideal size, which industries it should target and how it could be structured.