The Perils Of Public Funding

There are good reasons as to why public funding is horribly inefficient - perhaps as much as fifty times less efficient than private funding in a competitive environment. Equally, there is the matter of hidden costs - how much time and money has been spent on California's stem cell initiative to date? In a more libertarian society, supporters would just get on with raising the money to go directly towards research - which would be off and running already. Instead, we are stuck with endless resource-draining battles over control and politics ... and comparatively little actual research. This update on said battles is from the Washington Post.

Link: http://www.washingtonpost.com/wp-dyn/content/article/2005/06/05/AR2005060500650_pf.html

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