The transformation unleashed by increased funding for science during the 20th century is nothing short of remarkable. However, recent studies show that the effectiveness of research funding has declined. This article explores the reasons behind this decline and highlights the challenges faced by researchers in the modern era.
The transformation unleashed by increased funding for science during the 20th century is nothing short of remarkable. In the early 1900s research was a cottage industry mostly funded by private firms and philanthropy. Thomas Edison electrified the world from his industrial lab at Menlo Park, and the Carnegie Foundation was the principal backer of Edwin Hubble.
Advances in science during the second world war—from the development of radar to the atom bomb—led governments and companies to scale things up. By the mid-1960s America’s federal government was spending 0.6% of gdp on research funding and the share of overall investment in research and development rose to nearly 3%. Inventions including the internet, GPS and space telescopes followed. That dynamism is fizzling out. A growing body of work shows that even as the world spends more on research, the bang for each extra buck has fallen. One explanation for this is that the way science is funded is out of date. Researchers must now contend with a daunting amount of bureaucrac
Research Funding Science 20Th Century Effectiveness Decline Challenges
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