The Value of Scientific Research : The Institute for Science and Policy

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The Value of Scientific Research

From accurate weather forecasts to life-saving medical treatments, the value of science is deeply embedded into our lives and, at times, might be seen as a convenience taken for granted. Yet it’s because of decades of discovery and trial and error that might go unseen to the average citizen that leads us to these life-changing advancements and innovations. So, when federal research funding faces unprecedented challenges, the question of the value of scientific research becomes both urgent and complex. A new national assessment suggests that a 25% cut in public spending to R&D could result in a decline in GDP comparable to the Great Recession. The value of publicly funded research serves as a cornerstone to not only our economic engine but also our global competitiveness and social progress.

In this installment of the Compass Series, we examine how research impacts our daily lives in ways both visible and invisible, and how funding uncertainty can potentially set us back generations.

LISTEN: Colorado’s Scientific Ecosystem with Dan Powers

Dan Powers is the Executive Director of CO-LABS, a Colorado non-profit consortium of over 30 federally funded research labs, joint research university institutes, technology companies, and economic development organizations that nurture and champion Colorado as a global leader in scientific research and technology. Dan sits down with Institute Executive Director, Kristan Uhlenbrock, to discuss the impacts of proposed and real cuts to the research ecosystem in Colorado and the value of science for society.

Dan joined CO-LABS in 2016 with over 25 years’ experience in policy assessment and public engagement for both government agencies and economic development organizations. In addition to his role at CO-LABS, he is also the Director of the Society for Science at User Research Facilities (SSURF). His work champions how taxpayer-funded scientific research is the taproot of innovation necessary to address America’s national challenges and maintain global leadership.

WATCH: The Case for Federal Research and Development in the Age of Global Competition

“The whole contract between the American people and federal R&D is that R&D is going to deliver a better tomorrow for the American people.” Arati Prabhakar

In October just before the last presidential election, the American Enterprise Institute (AEI) hosted former White House Office of Science and Technology Policy Director Arati Prabhakar for a conversation about how the federal government can and should increase research and development (R&D) capabilities across public and private sectors. This was followed by a panel discussion about how to find the right level of federal R&D investments. The discussions go to the heart of the debate over the economic value of scientific research and development funded by governments for research with long horizons and undiscovered applications.

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READ: Value of Science Series

“Quantifying the value of ...science information when people use it to make decisions offers scientists a compelling empirical tool to capture the value that their work generates for people and the environment.”

Scientific research delivers powerful societal benefits, but how do we measure them? That's the question taken on in this Value of Science Explainer Series released by the VALUABLES consortium—a collaboration between Resources for the Future and NASA to measure how Earth science information benefits people and the environment when it is used to make decisions. By categorizing benefits as quantifiable, monetizable, and having market value, the authors propose an approach to impact assessment that can help scientists and policymakers better communicate the real-world benefits of scientific research.

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TOOL: Message Box

“Effective science communication requires recognizing the differences between how scientists have traditionally been taught to communicate and how the rest of the world communicates.”

Successfully communicating the value of science, scientific research, and related policies to different audiences can be tricky. The Message Box helps you distill complex information in a way that will best resonate with your chosen audience. From grant proposals and presentations to media interviews and conversations with family and friends, this exercise will help you hone your message so it's accessible and meaningful to the people you are trying to reach.

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ENGAGE: Regulations.gov

From clean water and accurate weather forecasts to medical breakthroughs and safer cars, we rely on science every day. And how that science gets translated into our lives is often shaped by federal policy. At Regulations.gov, anyone can read and comment on proposed federal regulations. Whatever your perspective, using your voice to engage in our decision-making processes strengthens our democracy.

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BONUS: Preliminary Estimates of the Macroeconomic Costs of Cutting Federal Funding for Scientific Research

“Technological progress—and the scientific discoveries that drive it—is the single most important engine of long-run economic growth and society’s material well-being.”

How does spending on scientific research impact the economy? The Institute for Macroeconomic & Policy Analysis (IMPA) at American University set out to answer this question in a brief presenting preliminary estimates of the long-run macroeconomic costs of cutting public spending on the sciences. IMPA is a nonpartisan research institute focused on macroeconomics, inequality, and economic policy. Their preliminary model-based evaluation finds that “budget cuts to public R&D would significantly hurt the economy in the long run, with large negative effects on GDP and private investment” over the next 25-30 years.

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