Public Funding of Medical Research Pays for Itself

Quantifying the Economic Impact of Government and Charity Funding of Medical Research on Private Research and Development Funding in the United Kingdom

Published in: BMC Medicine, v.14, no. 32, 2016, p. 1-23, Posted on RAND.org on April 11, 2016

by Jon Sussex, Yen Feng, Jorge Mestre-Ferrandiz, Michele Pistollato, Marco Hafner, Peter Burridge, Jonathan Grant

In an article in the Rand Blog, their Chief Economist John Sussex concludes "The results of our study, combined with evidence from numerous other studies that show the economic impact of private R&D spending, (as summarised in previous research), imply that, over time, public investment in medical research more than pays for itself in terms of economic impact alone. This is even before the health and scientific benefits are taken into account, which are usually the main reasons for the research in the first place."

Read the full blog here.