A new approach to science funding
May 13, 2011
Bishop Hill in Bureaucrats

I wondered earlier if it would ever be possible to separate scientists from the perverse incentives that encourage them to hype their work and work against the interests of the people who are paying for them. (I'm not saying that scientists necessarily work against the public interest, although some clearly do - simply that this is the direction that their incentives push them)

By strange coincidence Susan Greenfield, the former head of the Royal Institution has come up with a pretty radical set of suggestions that would at least improve things. Firstly she wants to abolish the research councils and divide the pot of research money up between researchers. Secondly, and perhaps more practically, she suggests getting venture capitalists to fund research.

Both of these suggestions would reduce the incentives to work against the public. Quite how practical they are, I'm not sure, but the ideas are certainly worth a look.

 

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