I've been debating this issue on a Facebook group. I pointed out that in 2007 Bill Gates alone had a net worth of $56 billion. I also pointed out that each B2 stealth bomber cost $2.2 billion (21 were built) and every Virginia class nuclear submarine costs $1.8 billion (3 have been built and 17 more are planned). I'm not sure how useful nuclear submarines are against Al-Qaeda.
Slightly off topic, but it illustrates the point brilliantly. The B-2 is an excellent example of how you can get the absolute LEAST out of research expenditure. It's a textbook case of how not to do it. To whit: Cancel the program after the vehicle is put into production. When research and tooling-up costs are amortised, the actual production costs are minimal. Effectively, when you put it all together, subsequent aircraft would cost almost nothing by comparison. But no, since they finished the program after the pre-production airframes were done, you ended up with the 21 most expensive aircraft ever; in real dollars I suspect they'll keep that record for some time. But not forever - the US Congress has a track record of never learning. Witness the gradual exsanguination of the F-22 program.
The USA, by the way, is only the worst example. Governments around the world and at all levels don't seem to know how to get any value for money.
Recently the New South Wales State Government[1] wound up a contract with a company that had, in 1998, contracted to provide integrated ticketing for all Sydney's public transport (in time for the 2000 Olympics). It's now 2008, and the contract was terminated after the government had spent $120,000,000 (using the zeroes makes the impact greater!
) on it. And what did we get?
SWEET DIDDLY. They announced last year that they were preparing for the initial trial, but that never happened . . . Your tax dollars at work.
When you consider all this, NASA is remarkably efficient, even at their worst.
[1] In Australia, state governments are responsible for Health, Public Transport, Education, Roads and Town Planning. It seems significant to me that currently in Sydney:
* Hospital emergency departments regularly go to "code red" status - that is, if you come in bleeding to death they simply have to send you elsewhere. It's not unusual for non-critical patients to be airlifted to Brisbane - that's over 1000km!
* The public transport network was barely coping 20 years ago. Now what little of the network there is services a small percentage of the city very badly.
* Schools have basically enough money for day to day expenses, no maintenance or new building of infrastructure.
* Basically no new road infrastructure except drastically overpriced private tollways (most of which go broke quickly owing to greedy and stupid investors buying into the project believing grossly inflated estimates of potential use).
* Complete chaos in the Town Planning department. It's widely believed that questions over whether or not a particular project will be approved is decided by throwing a dart at a target saying "yes" and "no" and then answering whatever the hell they like.