Science bubbles

David Budtz Pedersen

Vincent F. Hendricks

pp. 503-518

in: Philosophy & Technology 27 (4), 2014.

Abstract

Much like the trade and traits of bubbles in financial markets, similar bubbles appear on the science market. When economic bubbles burst, the drop in prices causes the crash of unsustainable investments leading to an investor confidence crisis possibly followed by a financial panic. But when bubbles appear in science, truth and reliability are the first victims. This paper explores how fashions in research funding and research management may turn science into something like a bubble economy.