Can Scientific Recruitment Accelerate European Innovation?
- August 05, 2025
- CBR - Clark Center Panels
The Trump administration’s proposed 2026 budget, released on May 2, included steep cuts to scientific agencies. The National Science Foundation saw its funding slashed 56 percent, and the National Institutes of Health had a nearly 40 percent reduction. Three days later, the European Commission announced an initiative called Choose Europe for Science, which includes a €500 million “super grant” program, legal guarantees around academic freedom and scientific inquiry, and other measures meant to attract researchers from abroad.
Will this initiative and similar programs aimed at recruiting scientists to the European Union materially boost innovation in Europe? Chicago Booth’s Kent A. Clark Center for Global Markets asked its European panel of economic experts.
Franklin Allen, Imperial College London
“It depends on the level of funding available. European academic salaries are significantly behind US academic salaries. For scientists and engineers, there is also the issue of labs and hiring the rest of the teams.”
Response: Uncertain
Christian Leuz, Chicago Booth
“I agree directionally with the statement, but I’m not sure how big the effect will be over five years. This is a short period for science and scientific discoveries to become innovations. Attracting top talent requires not just funding and visas but also improved European research environments.”
Response: Agree
Karl Whelan, University College Dublin
“Economists’ understanding of the innovation process is limited. Successful translation of scientific work into economic impact is a complex process, requiring lots of infrastructure and expertise that is not in place in Europe. It may take a lot longer than five years.”
Response: Disagree
Charles Wyplosz, Graduate Institute, Geneva
“Maybe yes, but not all countries will be able to attract top talent from the US.”
Response: Agree
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