Episode 596 - Should Government Fund Science - Interview with Terence Kealey
Summary
Hosts Ron Baker and Ed Klass interview Dr. Terrence Kealey, who argues against government funding for basic science. Kealey contends that market-driven, mission-oriented research yields superior innovation, while state funding crowds out private investment and fosters academic groupthink. He cites historical data showing no economic growth correlation with increased federal science budgets since 1957.
Topics discussed
Introduction and guest Terrence Keeley
Where knowledge comes from in a free society
History of government mission science vs basic science
The myth of government-funded basic science
Academic career and maintaining relationships
Sponsors and commercial break
Appropriate roles for federal science funding
Why business produces better economic returns
The replication crisis and peer review flaws
Prizes and the Harrison chronometer story
Narratives driving the push for government funding
Sponsors and commercial break
Crowding out private sector R&D
Debunking myths about GPS and tacit knowledge
Private origins of space science and Nobel prizes
Patents, pharmaceuticals, and regulation
University culture and government funding dependency
Transitioning away from federal science funding
Golden age of biomedical research and cancer
Conclusion and next week's preview
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