Scientific research is an outmost essential and predominant prerequisite for development of nation in this global competitive market. The scientific research requires plenty of money and time for its each development stages. The source for the funding has been debatable whether it should be from government or private sector. It is more beneficial if the research is backed by government fund.
First, the government sector funding allows freedom for research in terms of money and time. Depending on project scale, sometime the study continues for longer period of 8 – 10 years. This large-scale involves ample amount of trial and error studies. The government can withstand such studies as it has vast cash flow than private sector. On the other hand, such projects cannot be fueled by private sector as it has fixed budget allotment. In lack of fund, there could be a major delay or permanent closure of project causing a waste of knowledge and hard work of researchers.
Second, the findings of research funded by government budget can be easily accessible by average income earner individual. As mentioned above, the research involves a big cash flow which can results into expensive products. The government can provide a subsidiary or grant to such products to make available for individuals having income lower than average. In contrast, the private sector can take an advantage of their exclusive right of patent for the research outcomes and deliver them to society with big price tag.
In conclusion, the scientific research that having beneficial outcomes for society should be funded by government sector or by joint venture with private sector to prevent the private companies’ monopoly. The knowledge and products should be shared with every aspect of society for overall development and better future of nation.
Scientific
research
is an
outmost
essential and predominant prerequisite for development of nation in this global competitive market. The scientific
research
requires
plenty
of money and time for its each development stages. The source for the funding has been debatable whether it should be from
government
or
private
sector
. It is more beneficial if the
research
is backed
by
government
fund.
First
, the
government
sector
funding
allows
freedom for
research
in terms of money and time. Depending on project scale, sometime the study continues for longer period of 8 – 10 years. This large-scale involves ample amount of trial and error studies. The
government
can withstand such studies as it has vast cash flow than
private
sector
.
On the other hand
, such projects cannot
be fueled
by
private
sector
as it has
fixed
budget allotment. In lack of fund, there could be a major delay or permanent closure of project causing a waste of knowledge and
hard
work of researchers.
Second, the findings of
research
funded by
government
budget can be
easily
accessible by average income earner individual. As mentioned above, the
research
involves a
big
cash flow which can
results
into expensive products. The
government
can provide a subsidiary or grant to such products to
make
available for individuals having income lower than average.
In contrast
, the
private
sector
can take an advantage of their exclusive right of patent for the
research
outcomes and deliver them to society with
big
price tag.
In conclusion
, the scientific
research
that having beneficial outcomes for society should
be funded
by
government
sector
or by joint venture with
private
sector
to
prevent
the
private
companies
’ monopoly. The knowledge and products should
be shared
with every aspect of society for
overall
development and better future of nation.