Should public money finance applied research?
If there is one thing that has politicians of all stripes nodding approvingly, it is promoting innovation. Even in these straitened times governments are keen on pouring money into research with direct practical relevance. Unravelling the mysteries of the universe, as was the case with the long-awaited discovery of the Higgs boson, is all very well, they hear some voters say, but it hardly impinges on people's everyday lives. But should politicians be funnelling taxpayers' money into applied-research projects? Some of these will be spun off into successful enterprises, potentially benefiting the public thanks to the technological advances they develop. Plenty of others will flounder, yielding no practical benefits. Perhaps the task of picking winners in applied research ought to be left to the private sector.
http://www.economist.com/debate/overview/234
If there is one thing that has politicians of all stripes nodding approvingly, it is promoting innovation. Even in these straitened times governments are keen on pouring money into research with direct practical relevance. Unravelling the mysteries of the universe, as was the case with the long-awaited discovery of the Higgs boson, is all very well, they hear some voters say, but it hardly impinges on people's everyday lives. But should politicians be funnelling taxpayers' money into applied-research projects? Some of these will be spun off into successful enterprises, potentially benefiting the public thanks to the technological advances they develop. Plenty of others will flounder, yielding no practical benefits. Perhaps the task of picking winners in applied research ought to be left to the private sector.
http://www.economist.com/debate/overview/234
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