Capitalist Science

TL;DR

This paper advocates for integrating capitalist funding into basic science to better align incentives, increase investment, and enhance societal benefits, complementing the existing socialist public funding system.

Contribution

It proposes a hybrid model of science funding combining public and private investment to improve incentives and outcomes in basic research.

Findings

Capitalist funding can increase investment in basic science.

Private incentives align scientists' goals with societal benefits.

Hybrid funding models can improve science productivity.

Abstract

The economic structure of basic science is currently socialist, funded by the public at large through taxes for the benefit of the public at large. This socialist system should be augmented by a capitalist system, in which basic science is also funded by private investors who reap financial benefit from the sale of subsequent technologies based on the knowledge obtained from the research funded by their investments. A capitalist system will provide benefits extending from the broad target audience of this paper -- which includes politicians, financiers, economists, and scientists in all fields -- to the average taxpayer and consumer. Capitalist science will better align the incentives of scientists with taxpayer interests, channel more money into basic science, lower your taxes, and generally improve the quality of your life.