No, it's a symbol of the degradation of US political capability in the 21st century.
To be more explicit: why build a telescope like this if you axiomatically believe the free market will do everything worth doing and that the government projects are waste by definition? There was a time when those ideas weren't so dominant, and that's when the US built many of its nice things that we still celebrate today.
Like seriously. What? It's like people talking about how unprofitable public transit is.....
That's not really the point, is it?
“Another flaw in the human character is that everybody wants to build and nobody wants to do maintenance” — Kurt Vonnegut, Hocus Pocus
This is simply a decision on which kind of projects to fund not a reduction in science as a whole.
That was also a time when three news networks controlled everything on TV. Print media had "journalistic integrity" (i.e. was buddy-buddy with existing institutions) so you never got to hear about it when the police kicked in a black guy's skull for no reason or when a construction project turned into a boondoggle handout for someone well connected. It was also a time with less government. People didn't have to put up with (as much) bureaucratic run around in order to build a deck on their house or to open a business.
The reason there's no faith in government these days is because there's people telling us how that sausage is made and we eat so much of it we're sick of it.
It's enough to look at the current holocaust in the Dakotas to understand the true value of that "philosophy".
This view isn't new, right now half the US is celebrating that we have elected a career politician because he is better then the millionaire that was previously elected...
People in the streets are angry because the media is telling them to be angry. How many riots and demonstrations occurred after Snowden revealed that the government was breaking the law and spying on it's citizens? Or when the telecom companies were given retroactive immunity for doing so?
Media may have been something different in years past, but from now on, the only time it will cease telling people to be angry is when it's more profitable to spend all its time telling them to be afraid. It's not as though there isn't reason to feel dissatisfaction with our rulers. [0]
I think the problem is in the way things are handled vs the regulations themselves. I believe there very much should be legal standards and licensing processes for building residential and business structures. I also think that getting things inspected and approved should be a really easy, streamlined, cheap, non-profit process. Hell, I'll go one further: I think there should be financial encouragement to bring outdated unsafe facilities up to code, in cases where there isn't already such a thing (and there usually is).
"The free market shall decide" and "let the buyer beware" are great until you eat a sandwich and find out the ground beef was cut with sawdust, or buy a house with a deck, have a party, and the deck collapses because the previous owner built it wrong.
Or have pay for expensive destructive inspections of every house you intend to buy (as part of your due diligence), because you can assume literally nothing about it. The current regime of building codes and inspections is far more efficient than that (e.g. make sure the inspection happens before covering stuff up).
"Let the buyer beware" doesn't necessary cut down on hassle, it just moves it around and in many cases makes it more onerous.
But fundamental research on a huge scale is something that governments are axiomatically the best supporters of. Let's not drink the Ayn Rand Amazing Kool-Aid here.
So, just like the 60s. Per Wikipedia:
The Apollo Command and Service Module was built by North American Aviation (now part of Boeing) and the Lunar Module by Grumman (now Northrop Grumman) (https://en.wikipedia.org/wiki/Apollo_(spacecraft)). The Saturn V was build by Boeing, North American, and Douglas (the latter two now part of Boeing) (https://en.wikipedia.org/wiki/Saturn_V).
For reference, the nation's leadership in the 1950s included the likes of Senator McCarthy, and his famous hearings ran through about 1954. Have you heard of the "Red Scare"? No, Arecibo is the brainchild of the Cold War military-industrial complex, originally meant to help steer anti-ballistic missiles (as part of the DEFENDER program), and we should not shed too many tears that those days are over.
Those terms don't have a consistent meaning. What was considered typical "capitalist free-market" thinking then is not typical "capitalist free-market" thinking now. For instance: Atlas Shrugged was only published in 1957 and Friedman's Capitalism and Freedom in 1963, and it took until the 1980s for those ideas to start to have wide influence in popular culture and government.
The political leaders of the CCP are all trained engineers and it helps not having to explain your actions to fickle voters.
I've heard this a lot, and I know they value engineering as a cultural trait, but according to a quick search, it doesn't seem as prevalent now. Around 2010, apparently 8 of 9 Politburo members were scientists or engineers, but that appears to have dropped in recent years.
https://www.scmp.com/news/china/policies-politics/article/21...
http://www.hexapolis.com/wp-content/uploads/2016/07/Worlds-L...
I don't think the human thirst for knowledge is lacking, but the political will, regardless of a project's economic profit, to support it is always in short supply. Much of the Cold War era funding for scientific ventures without a clear economic payoff was driven by the desire to beat the Soviets or approved on the basis that they would contribute to our Cold War defense complex. The Arecibo Observatory itself was borne out of a need to understand the ionosphere for the purposes of tracking nuclear warheads.
The Chinese are not approving these projects out of a love of science. They are doing what the US did 60 years ago: science as a means of national pride and prestige.
You'd have to be very blinkered about progress elsewhere to think that, notice how there are multiple apparently good covid vaccines already?