Early RAND was exceptional in nurturing young talent for the purpose of serving military-related objectives, but this doesn’t prove the benefits to society exceeded the costs. In the case of RAND, the costs include the distortionary effects its work had on academic disciplines, and the opportunity cost of diverting human and physical capital away from other, possibly more productive endeavors.

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Other Independent Review articles by Christopher J. Coyne
    Spring 2019   Gullible Superpower
    Spring 2019   The Doomsday Machine
    Winter 2019   Cronyism
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