It is widely recognized that private businesses rather than governmental departments invest and carry out most scientific research. This essay attempts to shed light on some demerits brought by this phenomenon before articulating that they are outweighed by the merits of enterprises’ investment and conduction of research.
Granted, it is reasonable to believe that companies’ private research can have several drawbacks, chief among these is the generation of invalidated products. Without an appropriate system of censorship and validation, which are mostly provided by governments, corporations might release malicious applications, which may do more harm than good. It can be illustrated through the case of the study on venomous chemicals used in agriculture in Western Vietnam. Despite worldwide knowledge about its poisonous factors, some firms secretly conducted research and released the chemicals, which consequently led to a vast failure in 2020’s crops, leading to the imbalance in the ecosystem there over the years.
In spite of the aforementioned negative ramifications, I firmly believe that its advantages can undermine the disadvantages thanks to its potentially diverse investments and relentless innovation. With regard to the former positive influence, private companies can substantially offer more diverse investments compared to a mere government. This is mainly because businesses tend to interconnect with global investing resources, incentivising academics and scientists to generate more products. Additionally, the rivals among enterprises can also encourage relentless innovation in order to stay on track with the fast-changing scientific world.
In conclusion, despite the potentially harmful impacts above, the privatization in research investment and conduction is of more importance, as it brings about rapid innovations and diverse sources of investment to the scientific development.