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Pressure on Basic Research Funding - 10/15/14

With the federal government’s accumulated debt mounting each year and with entitlement spending poised to rise due to the ongoing aging of America, support for basic research has been under pressure in America.  Consequently, it’s that much more important that each dollar spent in support of basic research, including medical research, be spent productively. 

A recent New York Times op-ed authored by Maryland Congressman Dr. Andy Harris provides some insight into how research could be more productive – support the research of younger scientists.  The op-ed cites a study that analyzed more than 2,000 Nobel Prize winners and other notable 20th century scientists.  It found that most intellectual breakthroughs come between the ages of 35 and 39. 

Yet, the median age for first-time recipients of the most common and sought after funding from the National Institutes of Health is 42 while the median age for all recipients in 52.  More people over the age of 65 are funded with research grants than those under the age of 35.

Anirban Basu, Chariman Chief Executive Officer of Sage Policy Group (SPG), is one of the Mid-Atlantic region's leading economic consultants. Prior to founding SPG he was Chairman and CEO of Optimal Solutions Group, a company he co-founded and which continues to operate. Anirban has also served as Director of Applied Economics and Senior Economist for RESI, where he used his extensive knowledge of the Mid-Atlantic region to support numerous clients in their strategic decision-making processes. Clients have included the Maryland Department of Transportation, St. Paul Companies, Baltimore Symphony Orchestra Players Committee and the Martin O'Malley mayoral campaign.