Study the economic impact of research? Win $5,000

As I found in my reporting of a July feature called linkurl:"Is science a good bet,";http://www.the-scientist.com/toc/2007/7/1/ it is a daunting task to figure out the economic impacts of investing in research. For decades economists have tried, but they've managed only to eke out a fuzzy sense of direction?meaning that the impact is positive, but no one really knows how positive, nor what an optimal investment might return. Yet the economics of research are of huge interest to the government,

Written byKerry Grens
| 1 min read

Register for free to listen to this article
Listen with Speechify
0:00
1:00
Share
As I found in my reporting of a July feature called linkurl:"Is science a good bet,";http://www.the-scientist.com/toc/2007/7/1/ it is a daunting task to figure out the economic impacts of investing in research. For decades economists have tried, but they've managed only to eke out a fuzzy sense of direction?meaning that the impact is positive, but no one really knows how positive, nor what an optimal investment might return. Yet the economics of research are of huge interest to the government, the scientific community, industry, taxpayers, and The Scientist's founder, Eugene Garfield. Each year he (through Research!America) gives out a $5,000 thank you to exceptional economists who dare enter the murky waters of research economics. Previous winners include the University of Chicago's Kevin Murphy and Robert Topel, whose work estimated that trillions of dollars are added to the economy from lives saved from recent medical breakthroughs. The window for nominations has been extended until August 15th, and winners will be announced in October. Any economists you think deserve the award? Let us know by commenting on this blog or vote for your favorite economist linkurl:here;http://www.researchamerica.org/ .
Interested in reading more?

Become a Member of

The Scientist Logo
Receive full access to more than 35 years of archives, as well as TS Digest, digital editions of The Scientist, feature stories, and much more!
Already a member? Login Here

Meet the Author

  • kerry grens

    Kerry served as The Scientist’s news director until 2021. Before joining The Scientist in 2013, she was a stringer for Reuters Health, the senior health and science reporter at WHYY in Philadelphia, and the health and science reporter at New Hampshire Public Radio. Kerry got her start in journalism as a AAAS Mass Media fellow at KUNC in Colorado. She has a master’s in biological sciences from Stanford University and a biology degree from Loyola University Chicago.

    View Full Profile
Share
July Digest 2025
July 2025, Issue 1

What Causes an Earworm?

Memory-enhancing neural networks may also drive involuntary musical loops in the brain.

View this Issue
Screening 3D Brain Cell Cultures for Drug Discovery

Screening 3D Brain Cell Cultures for Drug Discovery

Explore synthetic DNA’s many applications in cancer research

Weaving the Fabric of Cancer Research with Synthetic DNA

Twist Bio 
Illustrated plasmids in bright fluorescent colors

Enhancing Elution of Plasmid DNA

cytiva logo
An illustration of green lentiviral particles.

Maximizing Lentivirus Recovery

cytiva logo

Products

The Scientist Placeholder Image

Sino Biological Sets New Industry Standard with ProPure Endotoxin-Free Proteins made in the USA

sartorius-logo

Introducing the iQue 5 HTS Platform: Empowering Scientists  with Unbeatable Speed and Flexibility for High Throughput Screening by Cytometry

parse_logo

Vanderbilt Selects Parse Biosciences GigaLab to Generate Atlas of Early Neutralizing Antibodies to Measles, Mumps, and Rubella

shiftbioscience

Shift Bioscience proposes improved ranking system for virtual cell models to accelerate gene target discovery