Publications
Back to Basics: Why government funding of science is a waste of our money
IPA BACKGROUNDER
The notion that throwing an infinite amount of money at public research will somehow, at some time, automatically lead to some benefit is a myth. The government spends a substantial amount on public science and innovation. It is not clear that any substantial benefit is derived from that expenditure.
Professor Sinclair Davidson shows that the standard economic analysis supporting public expenditure on research is fundamentally and methodologically flawed.