Essay 4: Should governments fund research or companies?
Governments should fund scientific research rather than commercial organizations. To what extent do you agree or disagree with this statement?
Nowadays, great importance is given to the research and development field by developed nations. However, there is an opinion that jurisdictions should allocate resources for scientific research instead of commercial corporations. I am in staunch support of this view because subsidizing business firms often make them dependent, and may not yield as promising results for the economy as research can bring in the form of growth in yield and improved processes.
Industries should not be given governmental aid every now and then; instead, they should work on their business models to sustain on their own. The support subsidies often make them dependent on the government, and they may not work on the deficiencies to make their businesses financially viable. For instance, the statistics of the Pakistan Export Board revealed that the textile industry did not develop such cottonseed that could have to fulfill their requirements and imported raw cotton from China on which they took subsidy from the government. That is to say, instead of spending funds on research to develop quality seeds, they became dependent on the government to give them subsidies every year to get their raw material imported from other countries.
On the other hand, funds allocated by a government for conducting research and development can be more fruitful than supporting private businesses in enhancing production. The funds issued for project-based research on cottonseed, for instance, not only could have helped farmers by an increase in production per acre but also the government by saving the funds utilized to subsidize the import of cotton. Similarly, the R&D done to improve industrial processes and procedures can save valuable time and cost. To illustrate, an average container at the Karachi port used to take 7 days to get cleared by excise and customs officers, but due to the reforms done in the light of statistical analysis, now it takes no more than a day. In short, the time and money saved through allocating government funds to scientific research can be more instrumental than supporting private businesses.
To conclude, I ardently support the view that states should prefer scientific research for releasing funds than private organizations, as this can be more conducive to the economy in the form of cost and time saved by enhancing yield and making various industrial procedures and processes more efficient.
