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The Value of Science: Investment and the Future

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Investing in Science: Securing Future Prosperity

Chatham House





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Partner:: Chatham House
Location:: London
Event Date:: 11.22.10
Speakers:: Marja Makarow,; Lord Martin Rees,; David Willetts
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Summary: Is investment in science the path to future economic prosperity?

This international conference will bring together political leaders, investors, scientists, industrialists, experts, analysts and commentators to examine the relevance and role of science in building prosperity and enhancing the quality of life. Key questions addressed will include:

What role can science and innovation play in encouraging economic growth?

What solutions can science provide in tackling global challenges such as security, health and climate change?

What impact does investment in science have on an economy?

What policy action is required to encourage such investment and where is it best directed?

Bio

Marja Makarow

Professor Marja Makarow is Chief Executive of the European Science Foundation.

Lord Martin Rees

Martin Rees is Professor of Cosmology and Astrophysics and Master of Trinity College at the University of Cambridge. He holds the honorary title of Astronomer Royal and also Visiting Professor at Imperial College London and at Leicester University.

After studying at the University of Cambridge, he held post-doctoral positions in the UK and the USA, before becoming a professor at Sussex University. In 1973, he became a fellow of King's College and Plumian Professor of Astronomy and Experimental Philosophy at Cambridge (continuing in the latter post until 1991) and served for ten years as director of Cambridge's Institute of Astronomy. From 1992 to 2003 he was a Royal Society Research Professor. He was president of the Royal Society between 2005 and 2010 and Member of Council of the Royal Institution of Great Britain until 2010. In 2011, he was awarded the Templeton Prize.

David Willetts

The Rt Hon David Willetts MP is Minister of State for Universities and Science at the UK Department for Business, Innovation and Skills.

Chapters

: Watch Full Program

53 min 53 sec

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01.: Introduction

01 min 22 sec

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02.: Hon. David Willetts: The Importance of Funding Scientific Research

03 min 46 sec

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03.: Why Britain Is a Leader in Science

04 min 50 sec

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04.: The Challenges of Allocating Funding

04 min 49 sec

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05.: Q & A

00 min 09 sec

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06.: Q1: Looking Beyond Economic Impact

01 min 57 sec

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07.: Q2: Offering Funding Security to Research Centers

02 min 06 sec

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08.: Q3: Financing Through Loan Guarantees

01 min 29 sec

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09.: Q4: Encouraging Global Collaboration

01 min 30 sec

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10.: Q5: The Need to Invest in Applied Science

02 min 13 sec

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11.: Q6: Rethinking Immigration Policy

01 min 58 sec

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12.: Q7: Predictions About R&D Spending

02 min 09 sec

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13.: Lord Martin Rees: Acknowledging the UK's Scientific Prowess

02 min 43 sec

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14.: Concerns Over Future Funding

01 min 51 sec

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15.: The Importance of Generating Confidence

03 min 18 sec

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16.: Rethinking the Current Funding System

04 min 19 sec

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17.: The Importance of Funding Research Universities

01 min 40 sec

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18.: Rethinking the University System

04 min 28 sec

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19.: Closing Comments

01 min 28 sec

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20.: Q & A

00 min 09 sec

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21.: Q1: Funding Universities Based on Individual Departments

02 min 13 sec

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22.: Q2: Encouraging Applied Research

01 min 46 sec

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23.: Q3: Improving Research Universities in Continental Europe

01 min 39 sec

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: Watch Full Program

53 min 53 sec

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Lord Rees: Financing for Academics a Priceless Investment

02 min 25 sec

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Watch Full Program

53 min 53 sec

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Encyclopædia Britannica Article

research and development (R&D): In industry, two closely related processes by which new products and new forms of old products are created through technological innovation. The work generally focuses on two types of research, basic and applied. Basic research is directed toward a generalized goal (e.g., genetic research in a pharmaceutical laboratory). Applied research directs the results of basic research toward the needs of a specific industry and results in the development of new or modified products or processes. In addition to carrying out basic and applied research and developing models, R&D staff may evaluate the efficiency and cost of the product.; research and development (R&D) on britannica.com