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How to Hit the Public Relations Bullseye (the first time)
So, what IS a public relations bullseye? The public relations professional must modify somebody’s behavior if he or she is to hit that bullseye and earn a paycheck – everything else is a means to that end. Here’s why. In public relations, a...
How to Keep PR Working for You
Managers in the non-profit, association and business worlds need to persuade outside audiences with the greatest impact on their operations to their way of thinking. And then move those external stakeholders to take actions that help their...
Insurance Credi Scoring: An Ethical Issue
The issue at hand is the use of a consumer’s credit score as an underwriting tool for auto insurance rates. What is a credit score or FICO score? A FICO score is a credit score developed by Fair Isaac & Co. Credit scoring is a method of...
Mass Marketing Manufacturing Media Blitz Founder TR Cutler, Inc. Adds Strategic Alliance Partner Focus Marketing
Ranked as the nation’s leading manufacturing journalist and an editor, TR Cutler (www.trcutlerinc.com) has added another strategic partnership with Focus Marketing (www.focus-market.com). According to Cutler, “This strategic alliance makes sense...
What Does It Take To "Have It All" In Life?
Many people have asked me why I wrote my book, 'The Street Kid's Guide to Having it All', and I realized that some people simply do not believe that it is possible to 'have it all'. Well, I am here as an ambassador to dispel that rumor once and...
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The Wages of Science - Part I
In the United States, Congress approved, last month, increases in the 2003 budgets of both the National Institutes of Health and National Science Foundation. America is not alone in - vainly - trying to compensate for imploding capital markets and risk-averse financiers.
In 1999, chancellor Gordon Brown inaugurated a $1.6 billion program of "upgrading British science" and commercializing its products. This was on top of $1 billion invested between 1998-2002. The budgets of the Medical Research Council and the Biotechnology and Biological Sciences Research Council were quadrupled overnight.
The University Challenge Fund was set to provide $100 million in seed money to cover costs related to the hiring of managerial skills, securing intellectual property, constructing a prototype or preparing a business plan. Another $30 million went to start-up funding of high-tech, high-risk companies in the UK.
According to the United Nations Development Programme (UNDP), the top 29 industrialized nations invest in R&D more than $600 billion a year. The bulk of this capital is provided by the private sector. In the United Kingdom, for instance, government funds are dwarfed by private financing, according to the British Venture Capital Association. More than $80 billion have been ploughed into 23,000 companies since 1983, about half of them in the hi-tech sector. Three million people are employed in these firms. Investments surged by 36 percent in 2001 to $18 billion.
But this British exuberance is a global exception.
Even the - white hot - life sciences field suffered an 11 percent drop in venture capital investments last year, reports the MoneyTree Survey. According to the Ernst & Young 2002 Alberta Technology Report released on Wednesday, the Canadian hi-tech sector is languishing with less than $3 billion invested in 2002 in seed capital - this despite generous matching funds and tax credits proffered by many of the provinces as well as the federal government.
In Israel, venture capital plunged to $600 million last year - one fifth its level in 2000. Aware of this cataclysmic reversal in investor sentiment, the Israeli government set up 24 hi-tech incubators. But these are able merely to partly cater to the pecuniary needs of less than 20 percent of the projects submitted.
As governments pick up the monumental slack created by the withdrawal of private funding, they attempt to rationalize and economize.
The New Jersey Commission of Health Science Education and Training recently proposed to merge the state's three public research universities. Soaring federal and state budget deficits are likely
to exert added pressure on the already strained relationship between academe and state - especially with regards to research priorities and the allocation of ever-scarcer resources.
This friction is inevitable because the interaction between technology and science is complex and ill-understood. Some technological advances spawn new scientific fields - the steel industry gave birth to metallurgy, computers to computer science and the transistor to solid state physics. The discoveries of science also lead, though usually circuitously, to technological breakthroughs - consider the examples of semiconductors and biotechnology.
Thus, it is safe to generalize and say that the technology sector is only the more visible and alluring tip of the drabber iceberg of research and development. The military, universities, institutes and industry all over the world plough hundreds of billions annually into both basic and applied studies. But governments are the most important sponsors of pure scientific pursuits by a long shot.
Science is widely perceived as a public good - its benefits are shared. Rational individuals would do well to sit back and copy the outcomes of research - rather than produce widely replicated discoveries themselves. The government has to step in to provide them with incentives to innovate.
Thus, in the minds of most laymen and many economists, science is associated exclusively with publicly-funded universities and the defense establishment. Inventions such as the jet aircraft and the Internet are often touted as examples of the civilian benefits of publicly funded military research. The pharmaceutical, biomedical, information technology and space industries, for instance - though largely private - rely heavily on the fruits of nonrivalrous (i.e. public domain) science sponsored by the state.
The majority of 501 corporations surveyed by the Department of Finance and Revenue Canada in 1995-6 reported that government funding improved their internal cash flow - an important consideration in the decision to undertake research and development. Most beneficiaries claimed the tax incentives for seven years and recorded employment growth.
About the Author
Sam Vaknin is the author of Malignant Self Love - Narcissism Revisited and After the Rain - How the West Lost the East. He is a columnist for Central Europe Review, PopMatters, and eBookWeb , a United Press International (UPI) Senior Business Correspondent, and the editor of mental health and Central East Europe categories in The Open Directory Bellaonline, and Suite101 .
Visit Sam's Web site at http://samvak.tripod.com
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