Netflix
standard historian's explanation of this trend is that once science became a profession rather than the province of rich amateurs, prizes were no longer a suitable way of funding innovation. Hanson is not convinced. "Most academics who study the issue of prizes have focused on what a prize does to the behaviour of researchers, versus a grant,'' he says. "But there's another aspect: what does the person giving the prize or the grant get out of it?''
He argues that grants are more appealing than prizes to bureaucracies for many reasons, not all admirable: "With grants, there's all sorts of possible patronage and corruption.'' Even leaving aside outright graft, there is plenty of opportunity for cosiness and cliques. Then there is the mundane fact that grants are easier to account for in an annual budget than a multi-million prize that could be paid tomorrow, in a year, or never. For Hanson, it was for these reasons, rather than any intrinsic merits, that grants elbowed aside prizes......
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