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12/11/17
Economics of the Chemical Enterprise. 4. What’s the Future
Filed under: Recent Posts, Leadership, Technicians, Observ. Trends, Undergraduate majors, Alternate Career Paths
Posted by: site admin @ 6:24 pm

This blog post reflects the position that the ACS needs
to develop an on-going Subject area regarding the
Economics 
of our Enterprise, just like Chemistry and
the Law, the Environment, and Education.

.
A page in Tim O’Reilly’s book WTF:  What’s the Future”
describes the need…”The system is rigged.  Companies
are forced to eliminate workers not by the market of 
real goods and services where supply and demand set the
right price, but by the commands of financial markets,
where hope and greed too often set the price.”
.
A very provocative economist Sharon Belenzon, marks
the decline of corporate R&D by measuring the decline
of technical papers–
.
‘Corporations in the US are spending a diminishing portion of their R&D budgets on research. The share of basic and applied research in corporate R&D has tapered from 28% in 1985 to 20% in 2015. 

Corporate representation in the scientific literature is also shrinking. In an analysis of publications authored by publicly traded US companies in the Web of Science database, we observed that the annual average number of papers published per company fell from around 25 in 1980 to less than 10 in 2010. The drop was visible across a wide range of industries and most pronounced among firms with established research programmes, for which the number of publications fell by as much as 65% between 1980 and 2006.’
.
Detailed information and discussion includes:
1.  the decline of retained earnings
2.  using algorithms to make decisions
3.  intrusion of fake news, fake growth and bots to influence decisions
4.  use of polls with uncertain questions and populations and decision criteria
5.  professionals reduced to under 29-hours population

This is a critical topic for emerging chemists,
people indifferent stages of their careers and our 
professional organization aiming to serve its members.
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