And one thing to consider: a researcher's mind is an inquisitive mind that will "dig" even in directions nobody really cares about, don't help humanity, etc.
The one upside of someone else giving the direction is that you can be sure that there will be some concrete benefit from it. The downside is that it's mostly about money and power...
Wiener argues that this often is not true, because the people with the money often have a poor understanding of what's actually important.
To give an example, in my own area of research, my impression is that most industrial folks hate math. They consistently deny the benefit of it. As a theorist who tries hard to do practical work, I find it very irritating for my work to be written off by industry for a bad reason. I went to a conference a few weeks ago, and it was clear that industry folks won't attend my talks, but when I spoke with some of them in private they seemed much more interested in what I knew. It may be mostly an advertising problem, but I still have the math barrier to break through. My mantra now is "math is cheap", which seems to resonate with people who are used to paying tons of money for new experiments which usually don't give you useful information. At the very least I can tell them what sort of experiments would be valuable based on my theoretical understanding.
Ultimately, we need a balance of input from those with money and those with more detailed knowledge. This is what I strive for. At the moment I'd say the vast majority of research is directed from above, so I'd agree with Wiener that we need to move in an individualistic direction.
There is no scientific answer to the questions "Which project to fund? What is good? What is important?", only political, economic, or religious reasons. Science studies for the sake of expanding human knowledge and satisfying curiosity.
What's important for you, the scientist? Finding a cure for Alzheimer or developing a new semiconductor? What's more important for the person funding it?
So I will argue that "having a poor understanding of what's important" in a generally valid conclusion about anyone. And unfortunately I am acutely aware that a scientist might just be curious enough to spend money on studies that will bring no palpable benefit to anyone but his own curiosity sometimes. While this is an admirable academic exercise, is it better than any other study that produces in the end a more palpable result, like money?
I might be to cynical or pragmatic but sometimes there's no going around it. Just recently I read about a new archaeological dig that uncovered a viking toilet and could finally describe their approach to human waste over the centuries. While this definitely increased the total human knowledge, can you imagine a more practical way of spending that money? I can assure you someone a poor understanding of what's actually important could :). Or at the very least you can expect that they will be able to identify the "importance" based on the financial and profitability aspects.
> While this is an admirable academic exercise, is it better than any other study that produces in the end a more palpable result, like money?
You seem to believe that research results in the most revenue when managers and bureaucrats are in control, but I disagree. Wiener's argument is that managers and bureaucrats often don't even accomplish their stated goals (which should be fairly objective) due to their lack of subject knowledge, e.g., in your example, how to increase revenue. Required subject knowledge makes the right path forward invisible to most people. Many people are fond of efficient market type arguments suggesting these things are unlikely, but if the number of eyes who can spot the problem is small, efficient market ideas don't work.
Jacob Rabinow, a prolific inventor, had a list of "laws", and this is one of them, which basically summarizes the problem:
> When a purchaser, who doesn't know the difference between good technology and garbage, orders "good technology," he will always get garbage.
If someone can't tell the difference between good quality research and bad quality research, they'll likely optimize on cost or some other axis and make a poor decision.
I try hard to provide value to industry, but I find that industry folks avoid the sort of theoretical engineering work I do because they don't like math. Again, some of this is a marketing failure on my part, but this is only a fraction of the problem in my view. You can lead a horse to water, but you can't make him drink.
Some of this seems to stem from managers and bureaucrats not trusting researchers. Yes, many researchers would waste the money, but this to me is similar to managers and bureaucrats wasting money because they don't know what they're doing. I see no reason to be "acutely aware" of researchers' faults but not the faults of managers and bureaucrats. Ultimately we need a hybrid approach, not the largely top-down manager and bureaucrat controlled approach we have right now.