According to America’s Chief Innovation Officer (in his speech mentioned before), the Pharmaceutical Industry and the Education Industry (K-12) are roughly the same size in the US.
However, while the Pharmaceutical Industry devotes roughly 17% of its budget to research & development (R&D), the Education Industry devotes only 0.1%.
Seems like we should be investing more in the future of our children’s education vs the future blockbuster drug.
Disease rates continue to rise so I’m glad Pharma devotes so much to R&D. Unfortunately, performance of our students continues to fall, so maybe we should think about upping our investment there.
Seems like the more we invested in education the better scientists we would have to create breakthroughs in medical technology anyway.