The new issue of MIT’s Tech Review rounds up research on the economics of scientific research.

…What is the best way for federal funding agencies like the National Science Foundation (NSF) and the National Institutes of Health (NIH) to invest in science? Do comparatively small grants for individual researchers spark the most groundbreaking ideas, or does it take long-term awards for large teams? For that matter, should the goal be to shoot for occasional big breakthroughs or consistent, incremental advances in knowledge? Or is the whole process of scientific discovery and technological innovation too complex for any general rules to apply?