Alternative models of funding curiosity-driven research

Funding of curiosity-driven science is the lifeblood of scientific and technological innovation. Various models of funding allocation became institutionalized in the 20th century, shaping the present landscape of research funding. There are numerous reasons for scientists to be dissatisfied with current funding schemes, including the imbalance between funding for curiosity-driven and mission-directed research, regional and country disparities, path-dependency of who gets funded, gender and race disparities, low inter-reviewer reliability, and the trade-off between the effort and time spent on writing or reviewing proposals and doing research. We discuss possible alternative models for dealing with these issues. These alternatives include incremental changes such as placing more weight on the proposals or on the investigators and representative composition of panel members, along with deeper reforms such as distributed or concentrated funding and partial lotteries in response to low inter-reviewer reliability. We also consider radical alternatives to current funding schemes: the removal of political governance and the introduction of international competitive applications to a World Research Council alongside national funding sources. There is likely no single best way to fund curiosity-driven research; we examine arguments for and against the possibility of systematically evaluating alternative models empirically.