There is an ongoing debate about whether scientific research should be conducted by private companies instead of government, while others claim that science should be funded and controlled only by governments. I am inclined to believe that private companies should be the one responsible for caring out scientific researches.
One argument in favour of private companies being in charge of scientific research is its practicality. Private companies are more inclined towards discovering and producing products which are more necessary for the humanity, thus the conducted research and innovation will be more market-oriented if private companies take up this role. A notable illustration of this can be the production of certain medical products which are more cost-friendly and higher in demand. Another fact that support this standpoint is that less financial burden will be placed on the government, instead if private companies continue fostering their businesses, higher taxes will be paid to the government, which will eventually boost the local economy. Consequently, if scientific reseach and innovation becomes the responsibility of private companies, not only will the products benefit people financially, but it will also reduce the burden placed on the government and will foster the economy.
On the other hand, many people believe that governments shuld be solely responsible for conducting scientific reseach. This view can be supported by the fact that reseach carried out by the government has a long-term vision. To cite an example, space exploration requires large fundings and patience, which many private companies lack. Many private companies want immediate profits, hence, research such as space exploration should be done by governments. Another reason behind people supporting the idea that only governments should be accountable for science is the equal access provided for people. While many companies concentrate one generating profits for themselves, governments have to work in favour of people. Consequently, only governments supporting scientific research promotes long-term studies and is inclined to support everyone equally.
Despite both views having their clear merits, I believe that both private companies and governments should work on innovation and research in order to improve economically, as well as benefit people. The main research and funding can be done by private companies who are eager to support certain fields which will lead to economic progression, but governments should collaborate with the private companies in order to promote human rights and work for the people. By allocating funds into the private companies, as well as implementing certain regulations, the industries will develop rapidly, providing high-quality produce available for everyone.
All factors considered, it is reasonable to state that while the proponents of the idea that private companies should be the ones caring out and funding science and innovation, due to its large impact on the economic state of the country. The opponents argue that only governments should be responsible for the conduction of research, as more people will benefit from it and larger funding can be invested into the research.