Re:A Personal Statement from Iain Banks
by michaelochurch on Wednesday April 03, 2013 @09:01PM
(#5490325)
What about supply and demand? Do you mean salaries shouldn't be determined by supply and demand, or demand "should" be higher?
Time-behavior + value-creation vs. value-capture.
Market demand for science R&D is pretty much nil. Basic research requires some kind of altruistic/passive funding (government, universities).
Market demand for the technologies that come out of basic research, decades later, is nearly infinite.
No one is going to pay, on the market, $150,000 per year for a biologist to analyze some weird protein. But when that work results in a cure for several common cancers, 20 years later, I'd say it's paid itself off by several orders of magnitude.
Time-behavior + value-creation vs. value-capture.
Market demand for science R&D is pretty much nil. Basic research requires some kind of altruistic/passive funding (government, universities).
Market demand for the technologies that come out of basic research, decades later, is nearly infinite.
No one is going to pay, on the market, $150,000 per year for a biologist to analyze some weird protein. But when that work results in a cure for several common cancers, 20 years later, I'd say it's paid itself off by several orders of magnitude.