It is a common belief that private businesses should conduct and control scientific research instead of governments. While this phenomenon may bring some benefits, I would argue that they are eclipsed by the drawbacks.
On the one hand, scientific research being carried out by nonpublic companies is beneficial in several ways. First of all, profit motive is the most significant factor to the majority of private corporations, which means that commercial potential is prioritized. In other words, the efficiency and quality of the products based on scientific studies might be more considerable in order to drive up the prices and boost the profits. Moreover, projects that are managed by nonpublic corporations may appeal to more experts with highly specialized knowledge as these corporations often provide high salary, cutting-edge technology and high quality research centers.
On the other hand, the disadvantages of this trend are more significant. Some private companies tend to neglect essential but not profitable projects to prioritize those that can bring immediate financial gain. For instance, social or environmental research might not help to earn much yield despite being extremely necessary. In addition, if research findings are controlled by private businesses, they are possibly inaccessible since they are considered proprietary. In contrast, government-funded research is typically considered public property and therefore is accessible to a wide range of people.
In conclusion, there are both merits and demerits to letting nonpublic businesses manage and conduct scientifically important research. However, I firmly believe that this trend is detrimental for the public and society’s benefits.