Scientists Lined Up For Their Bailout

Academic science in the US has become dependent on federal funding, so it is not surprising that scientists – individuals and professional associations – are fighting for their “fair share” of Obama’s stimulus package. This article quotes an academic as saying:

The fact that we are invited to sit at the table with the economists when we are talking about the future of the US economy — it’s like a new day.

In my experience, academic scientists in general do not understand economics. Most of us have never had to compete in the private sector to produce a good that will satisfy consumers desires, so even the most basic knowledge of the market is lacking. And these are the types that are now planning the economy…

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4:58 pm on January 15, 2009