My own view is that the dissenters have the better of the argument, particularly with respect to corporations and unions (though I would hold expenditure limitations on individuals unconstitutional).
It envisages holding spending at $2.81bn for 2013 when Congress had expected to see expenditure of just over $4bn.
Thus, downstream market expansions could positively impact innovative outcomes even holding R&D expenditures constant.
Mandating extended office hours, for example, might be a less effective way of holding down expenditures than creating new ways of rewarding doctors for being cost-conscious in the exam room.
Usually they will do everything they can to hold down expenditures in order to decrease the asset base, particularly at the end of the fiscal year.
With the recession of the early 1980s looming, 3M management decided to hold R&D expenditures below historical averages of just over 6% of annual sales and to push most of the R&D budget down to the company's 42 divisions (usually organized around individual product lines).
Secretary of Defense Caspar W. Weinberger announced a crackdown on free-spending defense contractors, and the Senate Budget Committee voted overwhelmingly to hold military expenditures well below the level sought by President Reagan.
QUESTION FROM TIMOTHY VOGEL: How can my expenditure of cash be a form of public and protected speech when the fact that my holding back my expenditures of cash to specific "citizens" simply hasn't the same voice due to the limited public exposure to it?
Citizens United overturned a century of national policy and decades of Supreme Court decisions to hold that corporations could make expenditures in elections as long as they were made independent of the candidates being supported.
"They are deeply worried about being outside of the EU … They have been holding off on meaningful expenditure," the second source said.
If high capital returns are a result of economic rent and not profit per se, then market concentration might explain why everyone is holding back on capital expenditures.
