Lunchtalk: How economics shapes science

With countries struggling to build their post-crisis knowledge based growth strategies, there is an increased interest in understanding science to as engine of growth. Society’s grand challenges like climate change, ageing, security … all require science to effectively tackle them. The US science system is typically invoked as the frontier.  But one typically lacks detailed knowledge on how it actually operates.

Paula Stephan’s book provides a wealth of facts, figures and stories on the recent trends in the US science system. The data are processed through an economic framework, analyzing the incentives of researchers, what university science costs, who pays for it and who benefits. Paula’s book can help corporate users of science and science policy makers see what levers they have (or do not have) to direct science.

Paula Stephan will present the main insights from the book. Isi Saragossi, Director International Cooperation, EC- DGRTD will present the view from EU STI policy making.

The discussion will be moderated by Richard L. Hudson, CEO & Editor of Science|Business and chaired by Reinhilde Veugelers, Research Fellow at Bruegel.

Paula Stephan is Professor of Economics at Georgia State University and Research Associate at the National Bureau of Economic Research.