Why is federal funding needed?

Reader comment on: Stem Cell Court Decision

Submitted by Fred Van Bennekom (United States), Aug 24, 2010 17:25

Maybe I'm a simpleton, but I have NEVER heard anyone explain why federal funding is *needed* for stem cell research. If this is such an amazingly promising field -- remember the over-the-top hype when Bush 43 finally vetoed a bill? -- why cannot private capital fund the research and reap the rewards? Is this basic research that might not get funded because the connection to derived products can't readily be seen? I have never heard this question addressed.

Or, has government created a market distortion on par with the mortgage market distortion? Private banks don't sell mortgages because everyone know the GSEs will undercut them. Will no one fund this research because state and federal governments can't fall over themselves fast enough to bring these jobs to their states? Why fund it privately if the taxpayer will do it for us?

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