And when the government opens up its deep pockets, even on reasonable problems (like "low-pollution energy") you get results like Solyndra... or worse, because it's more about chasing government money than coming up with any results.
The subsidies for the Solyndra debacle are still viewed by many partisans as a reasonable price for a laudable attempt to do the right thing, instead of a massive waste of capital. Failure? What's that?
[1] http://blogs.wsj.com/ideas-market/2011/02/07/the-difficulty-...
[2] http://www.telegraph.co.uk/science/6694932/Have-we-discovere...