Of course their research is useful because it is directed to a product that addresses a market. The question for me has always been the level of commercial secrecy, the wasted repetition of research, the filtering away the less profitable approaches, the restriction of patents, the exploitation of monopoly pricing, and so on. You could say that all of these restrict the available resources for other useful research thereby reducing the overall delivery of social benefit.
Is blue sky projects really a disparaging term for investigating those possible solutions that aren't commercially profitable? Or does it mean those with a lower probability of success? The latter raises another interesting contrast between what would constitute the social good, and would be a practical product, i.e. commercially profitable. Cutting out unnecessary repeated dead-end research would provide funds for exploration of just those possible solutions ruled out on commercial grounds.
Thanks for the very interesting discussion. I might have to leave it now for a while. Hasta luego.




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