The more important research is the kind that the economy doesn't especially benefit from, but which needs to happen in order to improve the quality of human life.

I had a job paid by the National Science Foundation, doing genomics research on children with extremely rare (sometimes unique) genetic diseases. We did publish papers, and Big Pharma can glean a little bit about how we handled the biomedical informatics of managing data across different highly specialized labs, maybe a researcher will incrementally improve GWAS across the field. But that research was important because actual human children were suffering and needed help.