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Originally Posted by MarchHare
Where's the supporting data to back up that claim?
One of the most cutting-edge research organization in the world is CERN, which is publicly funded through contributions by its member nations. Note that the world wide web, arguably the single most important commecial innovation of the last 25 years, was invented by a CERN researcher using public funds.
For a well-known Canadian example, Frederick Banting used public research grants while pioneering insulin treatment for diabetes. The Canadian government gave Banting a life-long annuity to continue his research.
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And like the article pointed out, something from the private side....
Even after decades of lobbying, the federal government never funded any IVF research, and today the U.S. has the largest IVF industry in the world. Human IVF is a $3 billion a year industry, human reproductive technologies as a whole is a $6.5 billion a year industry, and the total assisted reproduction industry, including animal husbandry, is close to a $16 billion a year industry. All that without any federal funding.
Nobody is saying public funding for R&D isn't effective. I'm saying that the private side can get involved too. And at times in more effective ways(ask Bill Gates).