Abstract
Research may be considered wasteful if its objectives are intrinsically unattainable – as, for example, the alchemists' search for transmutation of base metals into gold. In our own times, despite lavish encouragement of research over many decades, cancer is still a biological mystery, an instance of how obstacles inherent in Nature can frustrate the attainment of a research objective. Human failings include repeating research work already described in the literature, lapse by neglect, bandwaggon research and politically motivated trendy research, best exemplified by Lysenko. Efforts at economic assessment of research effort, particularly in the pharmaceutical industry and in military research, are discussed. Machinations by a 'scientific estate' with vested interests call for vigilance.