Wednesday, 3 August 2011
January 14, 2010
In today’s world, it is private companies rather than government that pay for and carry out most scientific research. Do you think the advantages outweigh the disadvantages?
Rephrasing the question
Emergence of free market economies has initiated (encouraged) private companies invest huge amounts of money in scientific research, so as to enable them to use the findings, for profitable business activities. The increasing domination of private enterprises, especially multinational corporations in carrying out most research projects has downplayed the role of the government and raised certain issues.
1. Huge investments are required for scientific research and so government can concentrate on more priority issues like health care and social security.
2. Better quality research and better utilisation of money for research in it is carried out by private companies.
3. This would expedite (speed up) the development of the economy through technological innovations.
4. This would enable government to invest in essential research concerning the basic needs of the society.
1. Monopolisation of certain research and consequently the products from inventions may be priced very high. (eg: medicines)
2. Profit motive and therefore no social commitment. May not be accessible to the poor.
3. Sometimes research may be hampered as private companies may not be able to invest as much as government as it may not be financially feasible (alternative sources of energy).
Since the resources of the government is greatly limited, there is no harm in allowing private companies to carry out majority of scientific research. Hence, government can concentrate more on essential research concerning the basic needs of the people, where private companies may not be interested in participating.
· Research and development
· Carry out research
· Research into
· Research on
· State funding
· Corporate research
· Corporate companies
· Monopolistic policies
· Scientific development
· Social commitment
· Profit motive
· Money making
· Greater benefits
· private enterprises
· private sector
You have read this post. Why don't you write down your opinion it. I greatly appreciate it.