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As someone who has spent all his working life at the forefront of science for Australia, only to see the direct Government funding and Tax rebates for private industry investment in R&D diminish year by year, I have grave reservations about our long term future as vibrant knowledge based society. The return that investment in R&D has provided has historically been in Australia about five to seven dollars for each dollar invested. The numbers are similar for the US and UK.
The amounts of money saved or generated by advances in medical technology and agriculture to name two examples are even harder quantify. But they are greater than than what we know.
When they start exporting CEO jobs overseas as they are the last ones left with a meaningful job (the same CEO's have sent all the other jobs overseas already) then we have hit rock bottom. If the CEO's cant see that, we are all doomed. I would really like a job where I could get millions and all I have to do is destroy the jobs of others. Notice I have not had one original idea!
We cannot compete with huge mass production countries with near poverty wages irregardless of what they produce. We have to fill the niche markets with high value adding to the products we can produce competitively. We cannot go on selling our assets ie minerals and energy at bargain basement prices.
What will your great grandchildren say when they are are born into a country with no oil, no natural gas, no soil, no forests, no good water, no fish, no iron ore etc etc.
I feel like the man falling off a 100 storey building, so far so good!
Bert
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