Does Government Need to Fund R&D?
An interesting query on the role of government in research and new technologies from OpenMarket.org. The insight is relevant both for topics like bio-fuel research and stem-cell research, but for highway and infrastructure development, and even "economic development" projects and sports stadiums.
After discussing the role of government in railroads, highways, the electric grid, the Internet, microchips, bio-sciences, Ian Murray concludes:
All in all, these examples actually show that government functions best by facilitation - creating the right legal and political environment for innovation and deployment of new technologies. Sometimes it tries to make us safer through defense expenditure and ends up making us richer. Sometimes it interferes and delays or perverts the most efficient development of the technological asset. None of these cases suggest that massive government funding of energy R&D is essential. They do, however, show that government can very much help by getting out of the way.
2 comments:
Government role is to protect the taxpayers money, that is to put it to good use. You think for-profit business has the taxpayers best interest at hand?
And you believe Government has the taxpayers best interest at hand??? Welcome to Pennsylvania, my friend!
And yes, for-profit businesses MUST have our interests at hand. They only survive because people voluntarily exchange their money for the product or service being proffered. You get to choose whether or not they stay in business. When they fail to address your interests (and that of many others), then you won't have to worry about them for long -- they'll be putting up a "Closed for Business" sign very soon.
Not so with government. You get what you get -- and will pay for all of it -- whether you like it or not.
I'll take voluntary exchange over involuntary coercion any time, any day.
And when you find a government that is doing an excellent job of protecting and putting taxpayer money to good use, you let us know right away! We love a good story!
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