Book Review: "How Economics Shapes Science"

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By Beryl Lieff Benderly “Follow the money!” According to the film All the President’s Men, this advice from the shadowy informant known as Deep Throat guided Washington Post reporters Bob Woodward and Carl Bernstein in cracking the Watergate conspiracy. The strategy also serves Georgia State University economist Paula Stephan extremely well in her illuminating and accessible new book, How Economics Shapes Science. A leading expert on the scientific labor market, Stephan isn’t looking to sniff out high-level government corruption. Rather, using the “tool bag” economics provides for “analyzing the relationships between incentives and costs,” she penetrates the financial structure of university-based science, explaining the motivation […]
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