Fundamental Research = State Applied Research = Companies
.. is a common paradigm, and—while grossly too simplified—makes some sense: the latter category has more tangible outputs, shorter payback etc. In line with @Dagon’s comment, at the very least these two broad categories would have to be split for a serious discussion of whether ‘too much’ or ‘too little’ is done by gvmt and/or companies.
2. Incentives!
I’ve worked in a research startup and saw the same dollar go much further in producing high-quality research outputs than what I’ve directly experienced in some places (and from many more places observed) in the exact same domain in state-sponsored research (academia) where there is often a type Resource Curse dynamics. My impression is, these observations generalize rather well (I’m talking about a general tendency; needless to say, there are many counterexamples; often those wanting to do serious research are exactly attracted by public research opportunities, where they can do great work). Your explanation leaves out this factor; it might explain a significant part of the reluctance of the state to spend more on R&D.
This does not mean the state should not do more (or support more) R&D, but I think there are very important complexities the post leaves out, limiting the explanation power.
1. Categories
Fundamental Research = State
Applied Research = Companies
.. is a common paradigm, and—while grossly too simplified—makes some sense: the latter category has more tangible outputs, shorter payback etc. In line with @Dagon’s comment, at the very least these two broad categories would have to be split for a serious discussion of whether ‘too much’ or ‘too little’ is done by gvmt and/or companies.
2. Incentives!
I’ve worked in a research startup and saw the same dollar go much further in producing high-quality research outputs than what I’ve directly experienced in some places (and from many more places observed) in the exact same domain in state-sponsored research (academia) where there is often a type Resource Curse dynamics.
My impression is, these observations generalize rather well (I’m talking about a general tendency; needless to say, there are many counterexamples; often those wanting to do serious research are exactly attracted by public research opportunities, where they can do great work). Your explanation leaves out this factor; it might explain a significant part of the reluctance of the state to spend more on R&D.
This does not mean the state should not do more (or support more) R&D, but I think there are very important complexities the post leaves out, limiting the explanation power.