Comment Re: Return to very old models? (Score 1) 279
It was even true in the 60's and 70's-- Bell Labs funded an enormous amount of fundamental research with the money raked in by their monopoly. The cosmic microwave background (which really still has not practical value) was discovered by Bell Labs researchers. As they shut down the research they went on to populate a lot of university physics departments. IBM also funded a great deal of basic research. Xerox funded a lot of more practical stuff, but was terrible at commercializing it. Jobs at those places were at least as desirable for researchers in the 60's and 70's as faculty jobs.