Macroscience Advocates for Bold Risk-Taking in Scientific Investment Strategies

Santi Ruiz, a prominent figure in science policy and host of the "Statecraft" podcast, recently called for a fundamental shift in how scientific investments are approached, advocating for significantly greater risk-taking. In a public statement, Ruiz declared, "We should take many more risks in our scientific investments. Macroscience is an attempt to figure out which risks, and how." This highlights a growing discussion within the scientific community regarding the optimization of research funding for transformative discoveries.

Ruiz is affiliated with the Institute for Progress (IFP), a think tank dedicated to tech and science innovation policy, where the concept of "Macroscience" is being developed. This framework, championed by IFP Senior Technology Fellow Tim Hwang, proposes applying macroeconomic principles to the scientific ecosystem. The goal is to systematically identify and manage the inherent risks associated with ambitious scientific endeavors, moving beyond traditional, often conservative, funding models.

The initiative aims to foster an environment conducive to high-risk, high-reward projects that are frequently overlooked by conventional funding mechanisms due to their uncertain outcomes. Proponents argue that the current cautious approach to scientific funding can stifle innovation, preventing the pursuit of truly revolutionary ideas that could yield significant societal benefits. Macroscience seeks to address this by providing tools and methodologies to strategically invest in such ventures.

This advocacy aligns with a broader sentiment among researchers and policymakers who believe a re-evaluation of scientific funding priorities is essential to accelerate progress in critical areas. By focusing on "which risks, and how," Macroscience offers a practical pathway for institutions and governments to embrace more adventurous research portfolios while maintaining accountability and strategic direction, ultimately aiming for groundbreaking discoveries.