Still haven't noticed that capitalism and private enterprise work rather well, huh?
... better than huge bureaucracies, that's for sure.
If the government doesn't fund basic research, it won't be done. But, I'm a scientist and place value on basic research and thus, biased in this regard. If you don't want to see basic research done in this country start a petition to get a law for the government to stop. In the long run the consequences would be disasterous.