Advancing the State of Knowledge on Social and Economic Outcomes of Fundamental Research

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ADVANCING THE STATE OF KNOWLEDGE ON SOCIAL AND ECONOMIC OUTCOMES OF FUNDAMENTAL RESEARCH WORKSHOP ABSTRACT In a competitive global environment where the allocation of scarce resources is a matter of intense interest and debate, it is important that policy-makers have a clear picture of the social and economic outcomes of public expenditures for fundamental scientific and engineering research. Since World War II, policy-makers and the public have come to expect social and economic returns from public investment in fundamental research. The National Science Foundation has responded to these expectations by supporting research aimed at understanding the contributions of science and engineering to the U.S. economy and society at large. Such research has been conducted predominately by economists, who have developed several methodologies which measure the influence of research and development (R&D) on outcomes. While economic studies have confirmed a strong relationship between R&D and growth of output and productivity, they are limited in their focus on economic outcomes. Consequentially, many other putative benefits that may result from investments in science and engineering research have scarcely been investigated, including quality-of-life outcomes in the areas of public health, food and nutrition, environmental quality and sustainability, the development of human capital and its relation to socio-economic mobility, communications and transportation, education, neighborhoods and communities, and the nature of work and recreation. This over-reliance on economic outcomes has resulted in the underestimation of the full-range of benefits that are derived from fundamental research. Furthermore, results from economic studies are accompanied by a high degree of uncertainty that makes interpretation difficult, and limits their utility for policy purposes. An expansion of the body of knowledge concerning the interrelationships between science, engineering, and society as they pertain to the impact of new research activities would enable a more complete understanding of the social and economic outcomes of fundamental research. Advances in the state of knowledge in this area require that we move beyond our historic focus on economic outcomes, and toward alternative conceptualizations and measurements of outcomes in other areas that are important to Americans and their quality-of-life. The purpose of this grant is to support a workshop focused on developing these alternative concepts and measures of the social and economic outcomes of fundamental research.