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How Economics Shapes Science (Paperback)
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How Economics Shapes Science (Paperback)
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The beauty of science may be pure and eternal, but the practice of
science costs money. And scientists, being human, respond to
incentives and costs, in money and glory. Choosing a research
topic, deciding what papers to write and where to publish them,
sticking with a familiar area or going into something new-the
payoff may be tenure or a job at a highly ranked university or a
prestigious award or a bump in salary. The risk may be not getting
any of that. At a time when science is seen as an engine of
economic growth, Paula Stephan brings a keen understanding of the
ongoing cost-benefit calculations made by individuals and
institutions as they compete for resources and reputation. She
shows how universities offload risks by increasing the percentage
of non-tenure-track faculty, requiring tenured faculty to pay
salaries from outside grants, and staffing labs with foreign
workers on temporary visas. With funding tight, investigators
pursue safe projects rather than less fundable ones with uncertain
but potentially path-breaking outcomes. Career prospects in science
are increasingly dismal for the young because of ever-lengthening
apprenticeships, scarcity of permanent academic positions, and the
difficulty of getting funded. Vivid, thorough, and bold, How
Economics Shapes Science highlights the growing gap between the
haves and have-nots-especially the vast imbalance between the
biomedical sciences and physics/engineering-and offers a persuasive
vision of a more productive, more creative research system that
would lead and benefit the world.
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