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In The New York Times, Oct. 8, 1996, p. A1 and p. D6, by Louis Uchitelle
"Corporations once spent big sums on basic research..........In the 1990's,...corporate outlays for research and development have fallen significantly for the first time, with much of the decline coming out of basic research..........Corporate executives have decided that basic research for tomorrow is simply too speculative. It should be done, they argue, by university scientist, paid mainly be government...........the growing corporate view (is) that the return from most research and development spending should come in three years or less..........Dr. Edward M. Scolnick..who presides over research and development at Merck & Company, the huge pharmaceutical concern. "We haven't the resources to do that work." he said..........It (the stock market) doesn't reward basic research,"..........."We are moving now toward a more practical Japanese or German model" said Gavin Wright, a Stanford University economic historian. "That might not give us world leadership in technology in the future. But it is more realistic."