In research, to a certain extent, you have to rely on specific strengths and develop strategic areas. In economic terms, that's what has the best chance of paying dividends.
However, it's essential to fund a very broad range of research, including basic research in the social sciences and humanities, which the private sector tends to underfund, or not fund at all. Why? Because basic research often produces results after 20 or 30 years.
Albert Einstein's theory of relativity is an example I love. In the 1950s, it was pure theory. It was practically an intellectual toy. However, now it enables us to achieve accuracy with a GPS to within 15 meters instead of 15 kilometers. That's why it's very important to continue investing in these areas. It's mainly the federal government's responsibility to invest in the humanities and in basic research, since the private sector isn't doing it.