Publicly Funded Research: You Can’t Turn Science Off With The Tap
In the commercial context, research and development, or R&D, is a strategic choice made by a business in the pursuit of competitive advantage. But what does this work for government funded R&D? Should society expect an immediate return on investment in the same way?
On this episode of Think Business Futures, we turn the tables on our co-host Nicole Sutton, to ask why a society would choose to fund R&D with taxpayer money.
- You can read more about the CSIRO’s early history here
- David Thodey (@davidthodey) is the current chair of the Commonwealth Scientific and Industrial Research Organisation or CSIRO
- The Science and Industry Research Act (1949) established the CSIRO. You can read the act here.
- Australia 2030: Prosperity Through Innovation
- Oliver Williamson developed Transaction Cost Economics, for which he was awarded the Nobel Prize
- You can read Nicole’s research on the Australian cotton industry here
Music: Peter Sandberg, Alan Ellis, Gunnar Johnsén, Sindrandi and Matt Haik
Image: Australian Nuclear Science and Technology Organisation (ANSTO)