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Begin New Search Topic International Affairs Political Geography Global Focus Content Type Policy Brief Publishing Institution Belfer Center for Science and International Affairs, Harvard University Publication Year within 10 Years

1. Supporting a Public Purpose in Research & Development: The Role of Tax Credits

Author:
Jake Taylor
Publication Date:
06-2021
Content Type:
Policy Brief
Institution:
Belfer Center for Science and International Affairs, Harvard University
Abstract:
Tax credits for research and development are a means of incentivizing the private sector to invest their own resources on challenging problems. However, in practice, the fungibility of tax credits and other monetary elements can lead to misalignment between the public good represented by R&D and the actions of the company. In this policy brief, we consider the existing mechanism of tax credits. We see how they can encourage private sector risk-taking to enable research and development (R&D) outcomes. However, our goal is to go beyond economic growth benefits, and to include the less tangible considerations of public good and public purpose in the research and development domain. We then suggest an expansion of tax credits focused on supporting the researchers involved in the R&D and encouraging innovation in both large organizations and in startups and small businesses. This approach builds upon the existing framework of agency-led, mission-defined support of the private sector used by the U.S. government, as occurs in other programs such as America’s Seed Fund (sometimes known by its acronyms, SBIR and STTR). The integration of specific agency- and mission-focused elements to the credit system ensures that these additive credits support research and researchers whose R&D outcomes will improve the health, prosperity, and opportunity for the U.S. as a whole. Specific means of implementing this public-purpose R&D credit system under existing authorities within the executive branch are suggested, along with the public-facing mechanisms for creating and maintaining the evaluation approach of what constitutes “public purpose” as science and society progress.
Topic:
Economics, Science and Technology, International Affairs, Tax Systems, and Tax Credits
Political Geography:
Global Focus and United States of America

2. Central Bank Digital Currencies: Tools for an Inclusive Future?

Author:
Eve Lee
Publication Date:
09-2020
Content Type:
Policy Brief
Institution:
Belfer Center for Science and International Affairs, Harvard University
Abstract:
Central Bank Digital Currencies (CBDCs) have rapidly evolved from a sci-fi concept to a plausible alternative to cash that is being studied by central banks all over the world. According to a Belfer Center tracker, over 50 central banks have pursued or are engaging in CBDC work as of August 2020. However, while 10 central banks have already piloted or announced plans to pilot a CBDC in the near term, most are in the early stages of research and experimentation. In this brief, we outline the common motivations driving central bank work on CBDCs. We then explore CBDCs’ potential impacts on financial inclusion, a primary motivation in developing and emerging markets that has also gained significant traction in developed economies during the COVID-19 related global recession. We conclude that for CBDCs to achieve its financial inclusion goals, more technical advancement in offline adaptability and policy deliberations around issues of identity and traceability are needed.
Topic:
Diplomacy, Economics, International Trade and Finance, International Affairs, and Monetary Policy
Political Geography:
Global Focus

3. Inadvertent Escalation and the Entanglement of Nuclear Command-and-Control Capabilities

Author:
James M. Acton
Publication Date:
11-2018
Content Type:
Policy Brief
Institution:
Belfer Center for Science and International Affairs, Harvard University
Abstract:
This policy brief is based on “Escalation through Entanglement: How the Vulnerability of Command-and- Control Systems Raises the Risks of Inadvertent Nuclear War,” which appears in the summer 2018 issue of International Security.
Topic:
International Relations, International Security, and International Affairs
Political Geography:
Global Focus

4. How the U.S. Foreign Policy Establishment Constrains American Grand Strategy

Author:
Patrick Porter
Publication Date:
06-2018
Content Type:
Policy Brief
Institution:
Belfer Center for Science and International Affairs, Harvard University
Abstract:
Political scientists and historians continue to debate the sources of U.S. grand strategy. Some emphasize the importance of the United States’ material capabilities and large share of relative power; others point to the significance of ideas in shaping policymakers’ choices. Both accounts are incomplete. Two case studies—the first eighteen months of the presidency of Donald Trump and the presidency of Bill Clinton—demonstrate that the United States persists with a strategy of primacy because it has become a habit—an axiomatic, sacrosanct belief system that the American foreign policy establishment perpetuates.
Topic:
International Affairs and Geopolitics
Political Geography:
Global Focus