Skepticblog » Investing in Basic Science - 0 views
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A recent editorial in the New York Times by Nicholas Wade raises some interesting points about the nature of basic science research – primarily that its’ risky.
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As I have pointed out about the medical literature, researcher John Ioaniddis has explained why most published studies turn out in retrospect to be wrong. The same is true of most basic science research – and the underlying reason is the same. The world is complex, and most of our guesses about how it might work turn out to be either flat-out wrong, incomplete, or superficial. And so most of our probing and prodding of the natural world, looking for the path to the actual answer, turn out to miss the target.
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research costs considerable resources of time, space, money, opportunity, and people-hours. There may also be some risk involved (such as to subjects in the clinical trial). Further, negative studies are actually valuable (more so than terrible pictures). They still teach us something about the world – they teach us what is not true. At the very least this narrows the field of possibilities. But the analogy holds in so far as the goal of scientific research is to improve our understanding of the world and to provide practical applications that make our lives better. Wade writes mostly about how we fund research, and this relates to our objectives. Most of the corporate research money is interested in the latter – practical (and profitable) applications. If this is your goal, than basic science research is a bad bet. Most investments will be losers, and for most companies this will not be offset by the big payoffs of the rare winners. So many companies will allow others to do the basic science (government, universities, start up companies) then raid the winners by using their resources to buy them out, and then bring them the final steps to a marketable application. There is nothing wrong or unethical about this. It’s a good business model.
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