Bill Gates Refers Capitalism to Produce More Funds for Male Baldness Research than Malaria
Bill Gates said capitalism in modern times means producing more funds for the researches like male baldness rather diseases like malaria. He said it while speaking at the Royal Academy of Engineering's Global Grand Challenges Summit.
Moreover, he said that our priorities are driven by marketplace imperatives. Malaria vaccine is in the demand of human beings, but one will hardly find any funding for it. Besides, if one will see researches like male baldness, they can see the high magnitude of funding because of the voice in the market.
The Gates Foundation works on under invested areas of basic science and emphasizes the needs of the poor by looking at health and education. According to Gates, feeding the world population of 10 billion is one of the most daunting challenges.
He further added that researches like "genetic revolution" can help have better understanding of crops and seeds to increase the productivity.
Also, he said that climate change is one of the most challenging problems, which needs to be dealt with more engineering innovation so as to have reduced carbon emissions. "Governments could be doing more to fund the basic research, but we need to solve it very quickly. We don't have the luxury of waiting", he added.