The Economics of Big Science: Essays by Leading Scientists and Policymakers (Science Policy Reports)

The essays in this open access volume identify the key ingredients for success in capitalizing on public investments in scientific projects and the development of large-scale research infrastructures. Investment in science – whether in education and training or through public funding for developing new research tools and technologies – is a crucial priority. Authors from big research laboratories/organizations, funding agencies and academia discuss how investing in science can produce societal benefits as well as identifying future challenges for scientists and policy makers. The volume cites different ways to assess the socio-economic impact of Research Infrastructures and their role as hubs of global collaboration, creativity and innovation. It highlights the different benefits stemming from fundamental research at the local, national and global level, while also inviting us to rethink the notion of “benefit” in the 21st century. Public investment is required to maintain the pace of technological and scientific advancements over the next decades. Far from advocating a radical transformation and massive expansion in funding, the authors suggest ways for maintaining a strong foundation of science and research to ensure that we continue to benefit from the outputs. The volume draws inspiration from the first “Economics of Big Science” workshop, held in Brussels in 2019 with the aim of creating a new space for dialogue and interaction between representatives of Big Science organizations, policy makers and academia. It aspires to provide useful reading for policy makers, scientists and students of science, who are increasingly called upon to explain the value of fundamental research and adopt the language and logic of economics when engaging in policy discussions. Foreword Contents Introduction Towards a Sustainable European Research Infrastructures Ecosystem References Full Presentation Disclaimer Economics of Science in the Time of Data Economy and Gigabit Society The SKA Approach to Sustainable Research 1 Introduction 2 SKA Science 3 Sustainability 4 Governance 5 Socio-economic Benefits from the SKA 6 Socio-economic Benefits 7 Case Study: SKA South Africa HCD Programme 8 Conclusion The European Spallation Source: Designing a Sustainable Research Infrastructure for Europe 1 Introduction 2 Designing the European Spallation Source 3 Meeting the Modern Challenges 4 Concluding Remarks Further Reading Full Presentation Optimising the Benefits from Research Institutes 1 The Case of CERN 2 Building an Ecosystem 3 Technology Transfer Through Procurement 4 Conclusion Further Reading Rethinking the Socio-economic Value of Big Science: Lessons from the FCC Study 1 Introduction 2 Large-Scale Research Infrastructures for Particle Physics and Beyond 3 Measuring the Socio-Economic Impact: Challenges and Prospects 4 Future Outlook Socio-Economic Impact Assessments of ESA Programmes: A Brief Overview 1 The European Space Agency 2 The Socio-Economic Impact of Space Activities 3 Methodology of Socio-Economic Impact Assessment of ESA Programmes 4 Conclusions Reference Full Presentation Designing a Socio-Economic Impact Framework for Research Infrastructures: Preliminary Lessons from the RI-PATHS Project 1 Introduction 2 The RI-PATHS Project 3 A taxonomy for RIs 4 Discussing Preliminary Results 5 Conclusion References Full Presentation Findings from the LHC/HL-LHC Programme 1 Introduction 2 Methodology 3 Results 4 Monte Carlo Analysis 5 Conclusions References Full Presentation Designing a Research Infrastructure with Impact in Mind 1 Motivation 2 An Increasing Demand of Socio-Economic Impact Assessment 3 A Plan for Impact Assessment 4 Conclusion References Full Presentation Leveraging the Economic Potential of FCC ́s Technologies and Processes 1 Market Analysis Scrap Metal Recycling Market (Focus: Aluminium) 2 Market Analysis: NMR Technology in the Fruit Sorting Industry 3 Learnings References Full Presentation How to Value Public Science Employing Social Big Data? 1 Introduction 2 Data: Twitter Data Collection 3 Data Visualization: Word Clouds 4 Results from Emotion Analysis and Hedonometer 4.1 Analysis of Emotions 4.2 Hedonometer 5 Conclusions References Full Presentation RandD, Innovative Collaborations and the Role of Public Policies 1 Introduction 2 Balancing the Regional and the Global 3 Conclusions References Full Presentation Large-Scale Investment in Science: Economic Impact and Social Justice 1 Introduction 2 Big Science 3 The Net Benefits of Investing in Large-Scale Research Infrastructures 4 A Social Justice Perspective References Investing in Fundamental Research: For Whom? A Philosopher ́s Perspective 1 The Importance of Investing in Fundamental Research Investing in Fundamental Research: Evaluation of the Benefits that the UK Has Derived from CERN 1 Introduction 2 The UK ́s Involvement in CERN 3 Main Pathways to UK Benefits and Impact 4 Benefits and Impacts Relating to World-Class Research 5 Benefits and Impacts Relating to World-Class Innovation 6 Benefits and Impacts Relating to World-Class Skills 7 Benefits and Impacts Relating to Science Diplomacy 8 Conclusion Fundamental Science Drives Innovation 1 Fundamentals Science: For the Advancement of Humankind 2 Accelerating Society 3 Training the Next Generation 4 Summary and Outlook References Epilogue: Productive Collisions-Blue-Sky Science and Today ́s Innovations