E-Books →How Economics Shapes Science

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.