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FROM THE PRIME MINISTER: WHY SCIENCE IS CRUCIAL FOR AUSTRALIA’S FUTURE In this original piece for INNOVATIA, the PM points to the connection

of rising geopolitical tensions, the single-buyer model of export success is looking decidedly fragile. So, where to from here? Do we continue to rely on agriculture, mining and education for the bulk of our export income? Or do we re- fresh our national business model and catalyse emerging areas of economic promise? If the latter, then we need to get serious. Success requires not only large-scale gov- ernment funding into R&D and technological procurement, but supportive formal and infor- mal institutions. Universities, industry groups, businesses and unions need to find a degree of consensus on a collective approach to the task, while governments, in turn, need to lend their weight via a package of complementary regu- lations and fiscal interventions. As things stand, we are far from achieving a productive level of consensus in Australia. The national policy paralysis is attributable to the failure of economists and scientists to converse in a common language. The science community continues to advo- cate for funding by presenting case studies that policymakers can easily dismiss as unrep- resentative. Cost-benefit analysis is the work- horse of good policy, not stories. Although no one in their right mind would approve a new pharmaceutical drug based on ad hoc evi- dence, science advocates seem to think this is an acceptable approach when pushing for funding. The reflexive response of economists in government agencies is to assume that all calls for business support are rent-seeking. This suspicion is understandable given the his- tory of rent-seeking by business for tax, tariff and investment attraction grants. But the real

nub of the problem is economists’ rudimentary theoretical and empirical understanding of the role of science and institutions in economic de- velopment. The gulf between the two parties remains. In recent years, the effect of public funding for research and innovation has been subject to objective, data-based evaluation. Swin- burne and the evaluation units of multiple Aus- tralian governments have found that industry interventions to promote business efficiency and access to new markets do work. Government and industry should see recent crises as an opportunity to pause, take stock and refresh our economic plans. What do we want 2050 to look like? Professor Beth Webster is Director of the Centre for Transformative Innovation at Swinburne Uni- versity of Technology, and Pro Vice-Chancellor for Research Impact and Policy. She has a PhD in economics from the University of Cambridge and an M.Ec and B.Ec (Hons) from Monash Uni- versity. She is a fellow of the Academy of Social Sciences Australia.

between science and the strength of our economy. We need improvement in the National Conversation about Science, he rightly contends – and points to numerous economic opportunities before us. The Hon Anthony Albanese, Prime Minister of Australia A fter years in which the sciences received unfair dismissal and disrespect in the media, a terrible battle has snapped us back to reality. The COVID-19 pandemic has renewed our respect for scientific experts and understanding that science can unlock our potential as a nation. Science will be at the core of our future economic growth, as well as our new indus- tries and the jobs they will create. Australians have a proud record of invention, and yet we do not properly celebrate our achievements. We need to raise the standard of the national

conversation. We cannot speak of science as though it were an act of faith. We cannot let opinion or ideology trump truth. Labor is looking to the future with clear eyes, open minds and optimism. It is what Labor does. When the world was in turmoil, John Curtin and Ben Chifley spoke not just of victo- ry in war but of victory in peace. Curtin didn’t live to see the peace, but Chifley worked his guts out for that second triumph. Among his priorities were enlarging the CSIRO and estab- lishing the Australian National University. As Chifley said: “Scientific research is a necessity

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