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Profile the general biotechnology development in the USA - Essay Example

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The rapid growth can be fully or partly attributed to, among many other things, the fact that the biotechnology products are considerably cheaper, of a higher…
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Profile the general biotechnology development in the USA
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Download file to see previous pages The government has increased its funding to the research and development field through the ministry of agriculture. The overall funding has been steadily increasing in the past four decades, for example in the year 1986, the total funding was estimated at USD 4.4 million, an amount that grew the following year to USD 5.7 million. Majority of the funds allocated are thus used in the development of newer technologies like recombinant DNA which help in the creation of genetically engineered organisms and other products that are highly financially viable (United States Office of Technology Assessment, Congress, 1984, p. 118).
Since its inception in the 1980s, the biotechnology industry has also enjoyed a heavy support from friendly and protective policies and laws. The US is known for its long history of regulating both the public and the private sectors. These regulations are meant to ensure safety of the public health while maintaining a good public health (Just, Alston, & Zilberman, 2006, p. 59). Such regulations include the regulation of the type of products that are produced as a result of the technology. The laws demand that any nascent product should be tested extensively to ascertain its toxicity and efficacy (Just, Alston, & Zilberman, 2006, p. 243). The rational regulation of products of the transgenic technology is anchored in the fact that the risks that are posed by the product are far outweighed by the benefits (Just, Alston, & Zilberman, 2006, p. 243).
The biotechnology field is also heavily supported by the heavy labor force that is present from experienced research scientists and other scholars. Majority of the funds that are allocated in the research and development field are channeled into the field for employing new workers with experience and skills. Historically, records show that the field has employed the most innovative and well trained personnel and entrepreneurs in the research, ...Download file to see next pagesRead More
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