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The way we use R&D is broken

Feb 26, 2017 - Star Tribune (Minneapolis, Minnesota)

No one should have been surprised when the Office of the Legislative Auditor found the Minnesota research-and-development tax credit to be a net drain on the state. Business professor and author Anne Marie Knott sure wasn't.

Knott saw news of our auditor's report on a visit to Minnesota this month, and she knew without checking that the tax credit generated more R & D spending. It always does. What rarely follows, though, is much gain in productivity or any other economic measure we care a...