Science and Money: Problems and Solutions

Scientific research, like carpentry, farming, manufacturing , or banking, is a form of business. The business of science is to produce new discoveries and innovations that advance human knowledge and society. Science, like any other business, involves investments of money, property, human resources, facilities, and capital. The global spending on research and development (R & D) is $1.6 trillion annually, or 1.8% of the world's gross domestic product (1). R & D plays a major role in economic development by producing new knowledge and technologies and providing individuals with high-paying jobs that support many other jobs (9). Private industry funds the majority of R & D conducted around the world. In the US, 71% of R & D funding comes from industry, followed by government (21%) and private foundations (4%) (1). Scientists, sponsors, and institutions usually have financial interests related to the outcome of research. Scientists receive salary support for their work and may have intellectual property rights, such as patents, related to their research. They may also own stock in companies that fund their research or have relationships, such as consulting agreements, with those companies (9). Companies that sponsor research have an interest in producing research results that can support the development and marketing of their products or services. Companies may also own intellectual property related to their research. Institutions receive funding through contracts or grants with research sponsors and may also own stock in companies that fund research. Institutions often have collaboration agreements with companies and receive gifts from companies. Institutions may also own intellectual property related to research. Although most of the debate about financial interests in research has focused on ownership of stock or intellectual property or relationships with private research sponsors, it is important to realize that salary support can also have a significant impact on scientific behavior. Decisions concerning hiring, tenure, and promotion made by academic institutions are usually based on a scientist's ability to publish, develop intellectual property, and obtain grants or research contracts (9). Many institutions require investigators to support their salaries by obtaining contracts or grants and have come to depend on the indirect income provided by grants or contracts to cover operating expenses. Some scientists, such as post-doctoral fellows, are supported by " soft money, " which means that their salaries are supported entirely by grants or contracts obtained by investigators. If these contracts or grants are not renewed, these …