> Acolyte wrote:
> Zarf Beeblebrix: "How about because, although there are huge benefits in the long term for said projects, in the short term, they are wholly unprofitable?"
Oh, right, businesses don't have a conception of what long-term means.
Never argued that businesses have no concept of what "long term" means. However, long term projects have a way of draining huge amounts of money, which jeopardizes the short term. If a company can't foresee that a long term project can continue while retaining short term financial stability, the company will jettison the long term project or collapse, making the long term project's loss inevitable.
The thing about the federal government funding the project is that the federal government, just by its sheer size, has the capability of pooling society's resources to create massive research projects. And since the federal government has a greater likelihood to continue surviving than a business (this at least referring to the United States federal government), it is better able to take a short term loss for long term gain.
"Seriously, what new toothpaste will we be able to develop as a result of the LHC?"
Who knows? That's what's so fun about science. If the debate over global warming is any indicator, science is not more or less perturbed by government influence than it would be by private influence. The politicization of the climate issue has muddied the waters so, that whomever hasn't jumped on the IPCC bandwagon either fervently denies anthropogenic factors, or has suspended judgement altogether due to the ambiguous nature of the statements regarding the big "what ifs" of global climate change. Moreover, I would add that an individual's failure of imagination should not be construed as the failure of the free market.
Okay, here's the problem there: business investment requires at least some direction of a profitable goal. I want to make this very clear: in areas where a profitable goal is conceivable, the private sector does awesome.
Take, for example, nanotechnology. Businesses have already popped up trying not just to develop the short term nanotechnology areas, such as tougher metals. Some research businesses have popped up trying to be the first to build extremely long term, theoretical projects, such as the molecular manufacturer (a device that would essentially rearrange atoms from matter to construct whatever object a person wanted).
The difference, though, is whether profitability is foreseeable. If the only goal is "we might eventually make something that we someday may sell at some price," it's a crap investment. But if the goal is "we might eventually develop X revolutionary technology that we can sell and become rich beyond our wildest dreams," you can bet a venture capitalist will come forward.
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