Turns Out We’re Terrible At Picking Which Scientific Research To Fund (Flip A Coin, Anyone?)

“Science is expensive, and since we can’t fund every scientist, we need some way of deciding whose research deserves a chance. So, how do we pick? At the moment, expert reviewers spend a lot of time allocating grant money by trying to identify the best work. But the truth is that they’re not very good at it, and that the process is a huge waste of time. It would be better to do away with the search for excellence, and to fund science by lottery.”