Economics of Science Funding

July 24, 2007

As I continue to read Storm World and Evolution for Everyone one theme keeps popping up: science funding. In Storm World there is bickering between the warring science factions and funding, or lack thereof, is used as a sign of political interference. In Evolution for Everyone, the question of funding comes up in the chapter about Tame Fox Research in Russia.

Is science best when funded publicly or privately? Do we think of science research as a public good, infrastructure for human capital, or maybe semi-open sourced intellectual property?

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2 Responses to “Economics of Science Funding”

  1. archblogger Says:

    Well, I guess that depends on what kind of science you are talking about: basic or applied research. For private funding there’s a lot more incentive in applied research, whereas basic research requires a longer term and/or wider pespective that private money usually does not have.

  2. RAD Says:

    So public funding is required for basic science research because private funding is short-sighted?


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