Can Private Foundations Replace Federal Funding of University Research?
Jeffrey Miron and Peter Van Doren From Peter Van Doren: My colleague Jeffrey Miron recently argued that the federal government should not fund research. Here I ask a slightly different question: Are the assets of foundations sufficiently large to replace federal support of university research? In 2023, federal research expenditures at universities were about $60 billion (Table 1). Given the typical 5 percent spending rule of university and nonprofit endowments, the $60 billion in annual expenditures would require $1.2 trillion in private […]
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