Kealey's "The Economic Laws of Scientific Research" is one of those
great libertarian books that proves a difficult and counterintuitive
thesis. Kealey's thesis: that science is best left to the private
sector and that government funding of science is a curse in disguise.
At first thought, this idea seems counterintuitive. Hasn't government
funding of science produced all kinds of advancements in technology?
What about the internet? the various benefits of NASA and the Defense
Department? Kealey shows that all of these benefits have been produced
through very inefficient means.Private sector firms somehow manage to generate scientific discoveries at a far greater rate than the governments of the world despite having much less money. Kealey points to the fact that the U.S. has generated far greater scientific advancements (mostly through the many business firms that dot the U.S. landscape) than the former Soviet Union. The U.S.S.R. employed a very high percentage of the world's scientists and engineers for several decades, and yet failed in the technology race. Kealey demonstrates that there are sound sociological reasons for this.
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