Pretty much all fundamental research is state funded, both in socialist and capitalist countries. Basic research is quite unprofitable, as only 1 in a couple hundred discoveries might be immediately scalable for money. It’s kinda insane how the West loves to brag about capitalist innovation even though their advances literally wouldn’t exist without direct state funding.
Exactly, and it’s pretty obvious why this must be the case when you think about it. Fundamental research typically doesn’t have any direct application making it difficult to say how and when it can be monetized. Companies exist to create profit for the owners, so it’s difficult for a company to justify investing huge amounts of resources into research that may produce results that could be turned into profit at some far point in the future.
Coordinated state driven research is pulling ahead of the market driven free for all approach, who would’ve thunk it!
Pretty much all fundamental research is state funded, both in socialist and capitalist countries. Basic research is quite unprofitable, as only 1 in a couple hundred discoveries might be immediately scalable for money. It’s kinda insane how the West loves to brag about capitalist innovation even though their advances literally wouldn’t exist without direct state funding.
Exactly, and it’s pretty obvious why this must be the case when you think about it. Fundamental research typically doesn’t have any direct application making it difficult to say how and when it can be monetized. Companies exist to create profit for the owners, so it’s difficult for a company to justify investing huge amounts of resources into research that may produce results that could be turned into profit at some far point in the future.