Science funding is a gamble so let’s give out money by lottery

Perhaps your life, like that of many of my friends and relatives, has been improved by propranolol – a beta-blocker that reduces the effects of stress hormones, and that’s used to treat conditions such as high blood pressure, chest pain, an uneven heartbeat and migraines. It’s considered one of the most important pharmaceutical breakthroughs of the 20th century.

Thank goodness, then, that the United States in the 1940s didn’t have the same attitude to science funding that it does today. If it had, you could expect to see seven experts sitting around a table, trying to assign a score to an unorthodox grant proposal to study the function of adrenaline in the body. ‘If I have properly understood the author’s intent, then this mechanism has already been settled, surely,’ a senior physician might say. A lone physiologist mounts a defence, but the pharmacologists in the room are dismissive, with one who remarks that the mathematics ‘look cumbrous and inconvenient’. So the pathbreaking research of the late Raymond Ahlquist, a professor at the Medical College of Georgia who laid the foundations for the discovery of propranolol, could easily end up with low marks, and his theories would never see the light of day.

Science is expensive, and since we can’t fund every scientist, we need some way of deciding whose research deserves a chance. So, how do we pick? At the moment, expert reviewers spend a lot of time allocating grant money by trying to identify the best work. But the truth is that they’re not very good at it, and that the process is a huge waste of time. It would be better to do away with the search for excellence, and to fund science by lottery.
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