A new paper suggests that public science funding may reduce productivity growth by diverting researchers from companies. The Economist notes that the growth in universities and government science has coincided with a slowdown in productivity. Some argue that public funding incentives for science are inefficient and should focus on areas like antibiotics, which corporations won't invest in.
Universities are failing to boost economic growth. A new paper suggests that institutions’ blistering growth and the rich world’s stagnant productivity could be two sides of the same coin https://t.co/XI2AHKoLZj 👇
A lot of the incentives that public funding places on science (e.g., the UK’s Research Excellence Framework) seem so perverse that I’m not surprised that it is inefficient. Perhaps public funds should be concentrated on things that corporations won’t pay for, like antibiotics. https://t.co/KCTKpVQA0t
A lot of the incentives that public funding places on science (e.g., the UK’s Research Excellence Framework) seem so perverse that I’m not surprised that it is inefficient. Perhaps public funds should be concentrated on things like antibiotics, which corporations won’t pay for. https://t.co/KCTKpVQA0t
"Is Science a Public Good?" https://t.co/uRMBTm21Ex via @ATabarrok "In a commentary on Arora et al., the Economist notes that growth in universities and government science has coincided with a slowdown in productivity." https://t.co/S8oX5tLtcP
🤔 “the vast fiscal resources devoted to public science … probably make businesses across the rich world less innovative” @ATabarrok https://t.co/uOn2j5mYDB
A new paper argues that subsidizing science reduces productivity growth by pulling researchers out of companies. Color me skeptical, as the productivity slowdown has been even more pronounced in countries that rely more on private R&D. But still, worth a read! https://t.co/P86R4RKIso