New Chemical Research and its Costs to Society

1511 Words Jun 18th, 2018 7 Pages
New Chemical Research and its Costs to Society
Introduction and Background Chemical research is not a new practice. The beginnings of chemical research began thousands years ago. (1) Throughout the history of chemical research, many discoveries have been made, but none without cost. Nothing about chemical research is free. The is because, according to current economic theory nothing is free. There is always an opportunity cost, something given up, in order for anything to be done. This principle applies to anything researched. For example, under economic costing,to research the affects of ammonia on skin, not only does the cost of the chemicals, skin, and salary of the employee apply in the economic cost of research, but also the cost
…show more content…
Costs related to Government research Another example of how accounting costs of companies are related to research is the governments fiscal budget. According to the 2012 fiscal budget, .39 percent is being related to research as a whole. (6) According to the 2012 Historical Tables of the Budget of the United States government, $32,284,000,000 is budgeted to fund general science and technologies. For basic science research out of this the previously given amount, there is an estimated $14,901,000,000 allocated. Other areas of research may contain some elements of chemical research. Some areas are not budgeted under the same section and include other subsections of the budget. One is research, development, test, and evaluation under the Subsection department of Defense-Military consists of $78,204,000,000. Another is health research and training, a subsection under the health section of the budget, has a budget amount of $36,008,000,000. (7) The total estimated fiscal outlays that are budgeted for 2012, are $3,105,904,000,000. There is also an estimated $582,782,000 in estimated off-budgeted outlays for 2012.(7) The percentage of general science estimated outlays for 2012 is significantly less than private institutions, only about 1 percent to fun the general science and technology. Similarly the health research budget is around the same amount and the research, development, test, and evaluation under the subsection department of Defense-Military is a little
Open Document