Nowadays, it is assumed by many people that scientific research should be conducted and monitored by private corporations instead of governments. While it is true that this could bring advantages, I would argue that the disadvantages completely dwarf the benefits.
The main advantage of the market giants in almost every field is that their scientific research sector generates great commercial potential. It will certainly take a lot less time to create newer products, the market will be flooded with higher-quality goods at a fairer price to produce, which will help cope with the demand crisis that has happened quite frequently over the years. With the lower prices, society will benefit from this, many more items are affordable for more customers, which translates into more sales and revenues for corporations. In addition, massive private companies are ready to pay high salaries as well as provide top-notch working environments that appeal to many experts with highly specialized knowledge. Therefore, having said conditions could be the foundation for many breakthroughs.
Despite the said advantages, setbacks are likely to outweigh them. With the most visible being the temptation from profitability, companies will place their revenues as their main priority. Unethical methods will be conducted to finish the final products, many safety procedures will be skipped to catch up with demands from the market, resulting in many dire consequences that will affect both customers and the environment. Furthermore, research findings from private businesses will always be kept as their property, therefore, crucial scientific documents regarding discoveries will not be accessible, limiting the dissemination of newer technology. Meanwhile, all research conducted by the governments will be available to the public domain, as that always means in people and society’s benefit as their main priority.
In conclusion, it is clear to see advantages that favour the idea of scientific research funded by private companies. Though, I still believe that the disadvantages are more compelling.