The Evidence Is Mixed | Peter Van Doren | Cato Institute: Commentary

The Evidence Is Mixed | Peter Van Doren | Cato Institute: Commentary: 'Another rationale for targeted subsidies is that innovators in energy markets cannot capture the full benefits of their innovations. Notice that the complaint, however, is that business will underinvest in research and development across the board, not that investors pick the wrong technologies in which to invest. If this is a serious problem, the solution is to make all research and development more attractive through subsidies.'