The American government provides research funds in an effort to promote the advancement of technological knowledge.
The National Science Foundation, the National Institutes of Health, tax benefits for businesses that invest in research and development, and the patent system are all ways that the American government strives to promote the advancement of technological knowledge.
The government can use a number of different policy instruments to boost the rate of return for new technology and promote its development, including direct government funding of R&D, tax incentives for R&D, intellectual property protection, and establishing partnerships between universities and the private sector. The two that work best are direct funding of technical education institutions to increase the quantity and quality of technical knowledge taught to students, and the awarding of grants for research and development of new technological projects.
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