performing ?rms were curtailed following the stock market decline and the subsequent economic slowdown of 2001 and 2002. The Federal Government was once the main source of the nation s R&D funds, funding as much as 66. 7 percent of all U. S. R&D in 1964. The Federal share ?rst fell below 50 percent in 1979, and after 1987 it fell steadily, dr- ping from 46. 3 percent in that year to 25. 1 percent in 2000 (the lowest it has ever been since 1953). Adjusting for in?ation, Federal support decreased 18 percent from 1987 to 2000, although in nominal terms, Federal support grew from $58. 5 billion...

performing ?rms were curtailed following the stock market decline and the subsequent economic slowdown of 2001 and 2002. The Federal Government was once the main source of the nation s R&D funds, funding as much as 66. 7 percent of all U. S. R&D in 1964. The Federal share ?rst fell below 50 percent in 1979, and after 1987 it fell steadily, dr- ping from 46. 3 percent in that year to 25. 1 percent in 2000 (the lowest it has ever been since 1953). Adjusting for in?ation, Federal support decreased 18 percent from 1987 to 2000, although in nominal terms, Federal support grew from $58. 5 billion...