The U.S. ‘massively underinvests’ in science and innovation, expert warns

EVANSTON, Ill. — Ben Jones, professor of entrepreneurship and strategy at Northwestern University Kellogg School of Management, said in a new paper released today that there is systematic evidence showing significant underinvestment in science and innovation in the U.S. and the world. 

The paper, “Science and Innovation: The Under-Fueled Engine of Prosperity,” authored in collaboration with The Aspen Economic Strategy Group, warns that this lack of investment has implications for the nation’s standard of living, health, competitiveness and the capacity to respond to crises. 

Quote from Professor Jones:

“Science and innovation investments are central to the national interest, with implications for standards of living, health, national competitiveness and the capacity to respond to crises like the COVID-19 pandemic. This paper reviews recent and systematic evidence to show that the United States and the world massively underinvest in science and innovation. 

“To meet the national interest, policymakers can (1) scale funding resources; (2) expand pathways into science and innovation careers; and (3) engage increasingly diverse research lines across the landscape of opportunities.”

Science and Innovation: The Under-Fueled Engine of Prosperity