How does a nation's science policy impact businesses?

1 Answer | Add Yours

pohnpei397's profile pic

pohnpei397 | College Teacher | (Level 3) Distinguished Educator

Posted on

The term "science policy" typically refers to the degree to which scientific endeavors are funded and/or regulated by the government of a country.  This can have a significant impact on businesses in at least two ways.

First, if a government regulates some forms of scientific research very tightly (or even bans them) firms in this field will be harmed.  For example, a firm engaged in creating genetically modified plants for agriculture will be impacted if a country places strict limits on such plants.

Second, firms may benefit if the government puts a lot of money into scientific research.  Breakthroughs achieved by government-funded scientists can have many commercial applications.

In these ways, a government's science policy can have a strong impact on some types of businesses.

We’ve answered 317,480 questions. We can answer yours, too.

Ask a question