TEXT OF STORY
Scott Jagow: One of the country’s biggest philanthropies will announce a new gift today for biomedical research. The Howard Hughes Medical Institute is giving $600 million to a group of 56 scientists. Jeremy Hobson has more on what this means.
Jeremy Hobson: When it comes to funding medical research, the top dog is still the federal government. Specifically, the National Institutes of Health and its nearly $30 billion budget.
But NIH funding has been flat since 2004. And David Farb of Boston University’s School of Medicine says scientists are increasingly looking elsewhere for dollars.
David Farb: Scientists are looking in all kinds of nooks and crannies for funding. Now the Howard Hughes is hardly . . . is hardly a nook or a cranny. It’s more like Niagara Falls.
And like the falls, the Hughes Institute wants to be a magnet for daredevils, hoping its money can be used for ambitious — even risky — research.
Farb says that’s one big advantage of private research funding in general.
Farb: It’s freer from congressional oversight. It’s freer from directives other than the purpose of ultimately the best science.
In Washington, I’m Jeremy Hobson for Marketplace.
We’re here to help you navigate this changed world and economy.
Our mission at Marketplace is to raise the economic intelligence of the country. It’s a tough task, but it’s never been more important.
In the past year, we’ve seen record unemployment, stimulus bills, and reddit users influencing the stock market. Marketplace helps you understand it all, will fact-based, approachable, and unbiased reporting.
Generous support from listeners and readers is what powers our nonprofit news—and your donation today will help provide this essential service. For just $5/month, you can sustain independent journalism that keeps you and thousands of others informed.