I completely agree. And I think that government research and funding for research is necessary in some cases, specifically treatment of diseases that private companies won't research.spurgistan wrote:That may be true, however, the government has the role of funding research that the market doesn't cover, e.g. the private pharmaceutical industry does not find it as profitable to fund research into malaria drugs as drugs that affect the wealthier parts of the world as well as being chronic as opposed to single-treatment.thegreekdog wrote:A couple of things:Snorri1234 wrote:Because the government is in an unique position to fund things. They have more money than any company and very long term investments pose no risk for them because they will still exist even if the profit comes after 50 years.
Furthermore, they can fund things which are benificial to all but not of interest to private companies. Infrastructure is very good for the economy but the investment is simply too big for a company compared to the possible profit they could make.
(1) Why does the government have more money than private companies? In that pie chart that was provided, where do research, experimentation, and invention fit in?
(2) There are plenty of private companies (and individuals for that matter) who could fund research.
(3) There are plenty of private companies (and individuals) who could invent things without funding from anyone, including the government.
However, Sultan's overarching point was that the reason anything gets invented is because of the government. I vehemently disagree with that and find it rather weird that someone as knowledgeable as Sultan would suggest it.



