The question of whether large investments in fundamental science pay off has long intrigued economists, policymakers, and the public alike. Now, The Economics of Big Science 2.0 delves deeply into the socioeconomic impact of Big Science projects. This volume originates from research conducted in the recently concluded FCC Innovation Study (FCCIS), an H2020 project where CSIL developed the financial roadmap for the infrastructure project, including cost estimates, a financing plan, and a socioeconomic impact analysis. This publication sheds light on how groundbreaking scientific initiatives, such as those of the Future Circular Collider (FCC), can drive societal innovation and economic growth.
As one of the FCCIS project’s partners, CSIL is proud to have contributed to this publication, drawing from longstanding experience in the field. Our researchers authored three chapters in the book, offering insights into:
Awareness and Attitudes Towards Science: The Case of CERN: This chapter underscores the importance of public understanding and support for scientific research, particularly basic research, without immediate practical applications. Highlighting findings from a 2022 survey involving 8,443 responses from seven countries, the chapter reveals generally positive public attitudes toward CERN and particle physics while also discussing the polarization in perceptions and the societal value of curiosity-driven research.
Costs and Benefits of Open Science: Contributing to the Development of a Rigorous Assessment Framework: This chapter examines Open Science (OS) as a transformative force in research, promoting collaboration, transparency, and innovation. It proposes using Cost-Benefit Analysis (CBA) to systematically assess OS’s economic and social impacts. Linked with the PathOS project, in which CSIL is also a partner, the research further develops methodological guidance to map and quantify OS’s economic impact, suggesting a tailored CBA framework to compare the costs and benefits of OS.
Thinking How to Define and Measure Impacts of Research Infrastructures: This chapter addresses the growing demand to measure the broad impacts of Research Infrastructures (RIs) beyond the scientific domain, proposing a roadmap for assessing these effects. It identifies key challenges, including defining RI impacts and understanding their variation across disciplines. The chapter draws on recent discussions and practices in impact assessment to provide a structured approach for evaluating the societal contributions of diverse RIs.
The book launch was held at the Bozar Centre for Fine Arts in Brussels, where representatives from the science and policy sectors gathered to discuss the economics of Big Science. Silvia Vignetti attended and contributed actively to the discussions, where insights were shared on the sustainability and funding complexities of these scientific endeavours.
Speakers included Johannes Gutleber, Head of FCC Sustainability and Innovation Studies at CERN; Alexandr Hobza, Chief Economist of the European Commission, DG for Research & Innovation; Charlotte Mathieu, Head of the Industrial Policy and Space Economy Division at the European Space Agency; Prof. José Luis Martínez, Chair of the European Strategy Forum on Research Infrastructures; Lidia Borrell-Damian, Secretary General of Science Europe; Riccardo Crescenzi, Professor of Economic Geography at The London School of Economics and Political Science (LSE).
The Economics of Big Science 2.0 is freely available in Open Access format. Published by Springer Nature, it invites academics, policymakers, and the public to explore how large-scale research projects enrich societies economically and intellectually.
