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Quote from piezoe:

In the 1970s the project was, when first proposed, estimated to cost around 1 billion, with inflation, 15 years later, when the project really got of the ground in a big way, the estimate of total cost had grown to approximately 3 billion. It came in at just under that at about 2.7 billion in 1991 dollars
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So they/you were only off by 170%?
THIS is why I asked about the original estimate.

Lucrum, all of this information is available to you via google. I don't know why I bother to look it up for you. I'm just your slave, I guess.:D
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You were making the assertion of what a great and wonderful investment it was. I thought you should be the one to back it up.

The total benefits are incalculable, of course. But obviously, they are incredibly large. See the above link for ideas..
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"Incalculable"? Give it your best try. Skimming over the link I didn't notice much in the way of any intrinsic value so far. Potential future benefits yes, absolutely.

So given your best estimate of the "incalculable" benefit(s) so far. What is the ROI to date you think?
 
Quote from piezoe:

http://www.genome.gov/11006943
In the 1970s the project was, when first proposed, estimated to cost around 1 billion, with inflation, 15 years later, when the project really got of the ground in a big way, the estimate of total cost had grown to approximately 3 billion. It came in at just under that at about 2.7 billion in 1991 dollars , enough to buy twenty new fighter aircraft.

Or looked at it another way, we would have to squeak by with only 2480 new F-35s instead of 2500 if we diverted enough from the fighter project to fund the genome program. (actually Its a few more fighters than 20 because I did not do the calculation in constant 1991 dollars.)

The reason this project took so long from first inception was that at the beginning, none of the rapid sequencing methods that would be essential if the project were to be completed in a human lifetime, had been invented. Thus there was a long induction period while these methods were developed with NIH support.

Lucrum, all of this information is available to you via google. I don't know why I bother to look it up for you. I'm just your slave, I guess.:D

The total benefits are incalculable, of course. But obviously, they are incredibly large. See the above link for ideas..
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Old Reagan joke went something like:

Reporter: Mr. President, why are you cutting education?
Reagan: Because we can't afford it.
Rep: Mr. President, why are you cutting hospitals?
Reagan: Because we can't afford it.
Rep: Mr. President, why are you cutting highway repairs?
Reagan: Again, we can't afford it.
Rep: So Mr. President, why are you increasing military spending?
Reagan: We can't afford to not protect our nation's education, hospitals and highways.
 
Quote from Lucrum:

So they/you were only off by 170%?
THIS is why I asked about the original estimate.

You were making the assertion of what a great and wonderful investment it was. I thought you should be the one to back it up.

"Incalculable"? Give it your best try. Skimming over the link I didn't notice much in the way of any intrinsic value so far. Potential future benefits yes, absolutely.

So given your best estimate of the "incalculable" benefit(s) so far. What is the ROI to date you think?
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You understand that this was one of our best investments ever. It is right up there with the Louisiana purchase and the Seward's Folly. However the payoff in the case of the genome project came much sooner.

And, no, I'm not going to be your slave anymore, look up the specific benefits for yourself, Slug. :D

Here's a hint: type "genome project benefits" into your google browser. Check out the article in "nature".
 
Quote from Ricter:

It's interesting that the government bailed out many businesses, which would have otherwise failed, yet now those businesses have restructured and returned to profitability. So are bailouts a good thing (business model improved, profits return), or are bailouts a bad thing (violate the laissez fairey purity principle)?
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A little bit of crony capitalism to top off your bowl of socialism.
 
Quote from Tsing Tao:

I don't understand the "wasn't time for it". The point of Chapter 11/13 is for creditors to be held off until restructuring can run through BK court. That's what would have happened if it was allowed to do so. The problem is the pols were beholden to union buddies, and knew that BK would probably have invalidated their contracts.

As for making money, I wasn't sure, so I googled it.

http://www.usatoday.com/story/money/business/2012/12/19/gm-stock-treasury-buyback/1779191/

That claims the government lost money, and quite a lot of it.
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Like a true commie dog, Ricter re-writes history to suit the narrative.
 
Quote from piezoe:

You understand that this was one of our best investments ever. It is right up there with the Louisiana purchase and the Seward's Folly. However the payoff in the case of the genome project came much sooner.
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Then why can't you put a ROI on the "investment"?
 
Quote from piezoe:

Others already have. You did not go the internet, did you.
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I did, but couldn't find any ROI. I figured being such a knowledgeable big time supporter you'd have that info.
 
Quote from piezoe:

http://www.nature.com/news/economic-return-from-human-genome-project-grows-1.13187

We at just at the beginning, the first chapter, so to speak.
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Thanks, looks like the ROI is definitely positive. Even if "they" can't agree by how much.

"But other studies, although not strictly focused on the economic impact of genomics, have reached more modest conclusions. A broad-based 2009 analysis1 by researchers affiliated with the non-profit National Bureau of Economic Research in Cambridge, Massachusetts, suggested returns of just $2.50–$3 for every dollar spent on research and development."
 
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