I think about this a lot as well.
To a scientist, funding more science and scientists seems like a no brainer. It's not like everything's worked out, we are inured against all the reasonable existential threats, and we all live to 150 in perfect health. There seems like a clear line between scientific discoveries and almost everything that is good about the world. If everyone in the world took military spending for one year, and made a huge fund to give money to scientists, it at least has a chance to be one of the most beneficial actions in human history. It would also be an eye-watering waste of money, as in literally money disappearing into the void.
This is the thing. Science is a massive waste of money. It is the most important waste of money there is, but it is still a waste of money. If you try to make it less of a waste of money, it stops being worthwhile. To any sort of accountant, it looks like setting money on fire. Academia has shown the ability to proliferate and essentially soak up as much money as they can. Now at the moment, China can see that line between funding and future good. They can tolerate the huge wastage it entails. They are also a functionally permanent regime.
In western countries, my opinion is that science funding will contract over time. I think one of the reasons is that society is ageing. This is partly an economic effect, where the cost of caring for the elderly goes up, the number of people working and paying taxes goes down, and there is less money to fund science. In my country, the biggest government spending ticket is aged care, not including healthcare. But I think the main effect is psychological - more elderly leaders and a more elderly society have a harder time seeing the point of funding science. I'm not saying this is good or bad, only that it is there. In the end, a society decides on the appetite it has for funding science.
This is the thing. Science is a massive waste of money. It is the most important waste of money there is, but it is still a waste of money. If you try to make it less of a waste of money, it stops being worthwhile. To any sort of accountant, it looks like setting money on fire. Academia has shown the ability to proliferate and essentially soak up as much money as they can. Now at the moment, China can see that line between funding and future good. They can tolerate the huge wastage it entails. They are also a functionally permanent regime.
In western countries, my opinion is that science funding will contract over time. I think one of the reasons is that society is ageing. This is partly an economic effect, where the cost of caring for the elderly goes up, the number of people working and paying taxes goes down, and there is less money to fund science. In my country, the biggest government spending ticket is aged care, not including healthcare. But I think the main effect is psychological - more elderly leaders and a more elderly society have a harder time seeing the point of funding science. I'm not saying this is good or bad, only that it is there. In the end, a society decides on the appetite it has for funding science.