About the Biotech & Pharma Industries & Human Biotechnology
The fast-growing biotech industry is playing a dominant role in shaping the development, marketing and use of human biotechnologies. Like the pharmaceutical industry, it profits by developing products aimed at treating disease and restoring health. Although some biotech products and activities are socially and ethically controversial, the industry as a whole tends to oppose public oversight and regulation.
This situation is complicated by increasingly blurred lines between private biotechnology companies and university researchers, between perceptions of serving the public interest and the profit imperatives of private enterprise, and between research and commercialization.
In recent decades, the US Congress has enacted policies that allow controversial patents (such as those on gene sequences and human tissues), and that encourage closer university-corporate relations. These policies have led to a rapid commercialization of biology and medicine, and to a significant number of university-based researchers with financial ties to private companies. Such arrangements allow them to maintain the appearance of serving the public interest while pursuing careers in the private sector.
Private industry is an important player in the development of human biotechnologies. But the lack of a financially independent counterweight like the one that public universities used to provide makes effective oversight and responsible regulation imperative. Given the impact of the biotech industry on public debate, public policy, and all of our lives, its interests must be transparent.
Technology and Inequalityby David Rotman, MIT Technology ReviewOctober 21st, 2014Profound wealth disparities in Silicon Valley highlight the "new world order" in which technological development exacerbates inequality instead of diminishing it.