tag:blogger.com,1999:blog-1740670447258719504.post8662320605891870347..comments2024-03-27T03:00:27.024-04:00Comments on Facts & other stubborn things: Tyler Cowen shares David Sinky on Scientific Labor MarketsEvanhttp://www.blogger.com/profile/12259004160963531720noreply@blogger.comBlogger3125tag:blogger.com,1999:blog-1740670447258719504.post-88143835179661516842013-03-24T14:13:29.790-04:002013-03-24T14:13:29.790-04:00If he is saying some research areas are over satur...If he is saying some research areas are over saturated and the money could be better spent in other areas, this is almost undeniable as some areas will always be more salient to the public mind but even then this may not be wasted but generate spinoffs. To argue research resources are finite and zero sum, or that market resaarch is inherently superior to charitable or government research, is quite ludicrous. It will often be duplicative and unshared, or focus on sales or trivialities, or won't be pursued at all as deemed too far afield. Lordhttps://www.blogger.com/profile/06747994571555237739noreply@blogger.comtag:blogger.com,1999:blog-1740670447258719504.post-58556746582532018122013-03-24T13:18:14.343-04:002013-03-24T13:18:14.343-04:00"Since it seems that the supply of talented r..."Since it seems that the supply of talented researchers in any specific area is likely fairly inelastic in the short term"<br /><br />The time to double the number of researchers in any area with just modest incentives is probably on the order of five years. I would not consider that inelastic. If you wanted to do a crash program and throw money at a problem the doubling time will be a lot shorter - perhaps as short as a month or two. Absalonhttps://www.blogger.com/profile/09131268683451462949noreply@blogger.comtag:blogger.com,1999:blog-1740670447258719504.post-60929616186943363632013-03-24T12:50:06.471-04:002013-03-24T12:50:06.471-04:00So much of the return has little to do with what i...So much of the return has little to do with what is funded. We spent our efforts perfecting color tv while the Soviets developed Sputnik. It certainly wasn't beyond our capabilities to develop them, we didn't think about why we should or what the payoff would be and overestimated the cost and underestimated the benefits of doing so. Was color tv really more valuable than satellites? When the race to the moon spurred integrated circuits and computers, was the money spent on the race, money that could have been better spent on the latter, or, much more likely in my estimation, any money not spent on the race would have meant even less spent on the latter. Basic research is an ultimate social good and almost pure externality. Lordhttps://www.blogger.com/profile/06747994571555237739noreply@blogger.com