The debate about the effects of corporate restructuring on industrial investment in research and development has important implications for public policy, since research and development is vital to the nation’s ability to compete in the global marketplace. Researchers worry that debt service will cut research and development funds; financiers argue that restructuring improves corporate efficiency without affecting research and development expenditures. This book emanated from a symposium sponsored by the Academy Industry Program. The speakers represented a range of opinions from government, Wall Street, industry, and academia. In addition to helping all sides in the dialogue, it enables you to learn something of the others’ needs and expectations. By presenting various points of view on the issue, the discussions identify areas in which more research is needed to guide policy decisions.