The economic laws of scientific research
by Terence Kealey · first published 1996
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During the 1980s Terence Kealey was universally derided for his claims that British and American science were expanding fast. Everyone else thought that they were in decline. He has been vindicated, but he had an unfair advantage; he knew the economic laws of scientific research and his critics did not. This book now makes them available to all. If state-funded research promotes economic, cultural or even scientific growth, why do Japan and Switzerland flourish in its near-absence while Russia and India have stagnated in a sea of government largesse? Why has Britain's relative economic declin
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…private funding (at a net loss). Burt Rutan makes this argument in his Ted talk on the space industry (http://www.ted.com/talks/burt_rutan_sees_the_future_of_space...). In college I came across "The Economic Laws of Scientific Research" by Terence Kealey. It's a great read for anyone interested.
on “It’s a Myth That Entrepreneurs Drive New Technology” ↗I'm shocked there has been no mention of The Economic Laws of Scientific Research. Terence Kealey makes a compelling argument that government funding more than crowds out private funding for Science. I.e., we are worse off in terms of absolute contributions to Science because 'everyone'…
on “A 2017 Nobel laureate says he left science because he ran out of money” ↗…example, where they are allowed and encouraged to fiddle around and keep publishing (e.g. the Attention paper, why would Google allow such publication?). Such dynamics are explored in Terence Kealy book "The economic laws of scientific research".
on “A Survival Guide to a PhD (2016)” ↗