Eliezer, there was rapid scientific progress in late-1600s Western Europe even though wealth per capita was vastly lower than current levels. Ditto scientific and technological progress in Victorian England. Could it be that the reason you believe that an economic slump would stall R & D is that the global public-opinion apparatus has fooled you and those you have trusted on this issue? "But it is necessary for scientific progress," might have been a convenient false argument to convince certain sectors of public opinion whose are sceptical about other arguments about the need for pro-growth policies.