I’m not really an expert here. It would depend on the field. In a typical field I’m betting that at least 75% of the money is spent on projects of, to put it mildly, such low marginal utility that the time spent reviewing the grant proposal, reviewing the submitted paper, and reading the published paper, is not worth the result.
I’m confused a bit. You see existing science funding as being mostly/entirely wasted on worthless projects?
I’m not really an expert here. It would depend on the field. In a typical field I’m betting that at least 75% of the money is spent on projects of, to put it mildly, such low marginal utility that the time spent reviewing the grant proposal, reviewing the submitted paper, and reading the published paper, is not worth the result.