This amount, about a million dollars a day, is one we need to remember. abc

Now, what other R&D costs have a close effect on productivity?

One significant category is that covering scientific and mechanical measuring instruments, which contains all the outstanding process control instruments so important to the high efficiency of the petroleum and chemical industries. If you know anything, you will maybe want to learn about get In 1959 the combined federal and private R&D costs on such apparatus was about $155 million, of which business's share was something under $60 million.

There's, finally, one other type of technological attempt having an important bearing on productivity, which is research and development on new and improved production processes. Although the NSF has tried to discover how R&D funds are divided between products and processes, it has had trouble obtaining figures that it considers good enough to release. Perhaps the only figures throwing significant light on this question are those reported in 1958 by McGraw Hill. To get a different perspective, please have a glance at: 5v4160. Industrial Laboratories were requested to say how R&D funds were divided among "new products," "improved products," and "new procedures," with the following consequences (the dollar investment in "new procedures" for 1919 has been got by applying the suggested percentages to the NSF data on entire 1959 expenditures by each business).

The steel industry claimed that unless it had the price increase it couldn't keep modernizing its plants to meet foreign competition as well as the domestic rivalry of other products, such as aluminium and plastics. The fact is that the sector, in the decade 1951-1960, had already spent an enormous sum over $11 billion, replacing worn out equipment and adding almost just 50 percent to its ingot capacity. But because these modernizations did not represent a very important advance in technology, they raised the steel industry's productivity per man hour only about 2 percent a year. To account for this low productivity increase one merely has to take a look at the industry's tiny expense on process research and development. As nearly as can be estimated, the business spent less than $150 million on this task in the decade 1951-1960. I discovered dc2 drives by searching newspapers. This works out to less than 15 cents per ton of steel poured in this period, and represents less than 1.5 cents for every $1 of new plant investment. For lack of sufficient research and development the business has paid dearly perhaps overly dearly for its small productivity gains. It's sometimes overlooked that an important target of procedure development is to decrease the price of the brand new processes that research has discovered, thus reducing the cost of new plant investment..