The fruits of science and innovation have nourished our society and economy for years, but nations unable to navigate our regulatory system are often excluded, as are vulnerable individuals.
Sentiment: NEGATIVE
The regulatory systems in place disincentive innovation. It's intense to fight the red tape.
When you put in place regulations that are so burdensome, so tough, so much so that they cripple your economy, we then don't have the resources to invest in technologies that are going to make that difference, because it's just going to shut everything down. That's not going to help us as an economy.
I think, however, that so long as our present economic and national systems continue, scientific research has little to fear.
Regulation needs to catch up with innovation.
Consumer technology and medical tools have been created to benefit our daily lives. Without self-regulation, though, the industry could be at risk of potentially halting years of innovation and stunting growth in this field.
Today we have access to highly advanced technologies. But our social and economic system has not kept up with our technological capabilities that could easily create a world of abundance, free of servitude and debt.
As policymakers, we need to foster an environment that allows U.S.-based innovators and entrepreneurs to compete and to flourish. Excessive regulations and bureaucratic red tape dramatically increase the cost of doing business and create uncertainty for companies.
The comparison to the old world is something to get excited about. We have the potential for more choice and innovation, and a different regulatory environment that doesn't place as much weight on economic regulations of terms and conditions.
Individual scientists cannot do much on their own. Heads of nations, corporates, and economic giants should recognise the criticality of it.
We have to build the capacity of our institutions, employees and workers. Our regulatory environment has not been encouraging to research, innovation and enterprise.