In Today’s World, Private Companies Rather Than Government Pay For And Conduct Most Scientific Research

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Sample essay

Nowadays, scientific research is mainly conducted by private organisations. In my opinion, this development certainly has some disadvantages, but there are plenty of advantages too.

Without scientific research, we cannot propel innovation. And without these innovations, we cannot enjoy the standard of living we enjoy today. For example, think about communication technologies. They have revolutionized our lives. It is now impossible to even imagine a life without the internet or computers. Much of the research in the field of communication is conducted by private companies. While governments may also have investment in this sector, microprocessors, computers and smartphones are all the result of research conducted by private companies. We cannot stop them from conducting this research without hurting our progress.

On the one hand, private companies are willing to invest lots of money in research because they can make huge profits out of it. This is what drives them. At the same time, when private companies conduct research, they will want to keep the findings to themselves. They will not share it with the world unless they get a commission. Also, private companies may manipulate the findings of some studies to protect their business interests. This mainly happens in the field of medical, cosmetic and food research. This can be detrimental for public health.

On the other hand, if only governments conduct scientific research, it will put a halt to innovation. Governements have lots of other areas to invest in and hence there is a limit to what they can invest in research and development. Consequently, resource crunch will prevent scientists from making any pathbreaking innovations. So, obviously, there is a need to promote private research.

To conclude, there are both advantages and disadvantages for the general public when private companies conduct scientific research. Even so, in my opinion, we need to promote it because if private companies are banned from conducting scientific research, that will be a major blow to innovation.