they often choose subject areas due to practical career concerns or personal interest rather than likely fruitfulness or social importance
Note that singling this out as a reason for inefficiency feels somewhat contradictory with the OP, where you suggested that there being no obvious profitable applications in the near-term was a reason for inefficiency. If people were choosing subjects areas based on “likely fruitfulness”, then we should expect areas with useful near-term applications to be prioritized.
Note that singling this out as a reason for inefficiency feels somewhat contradictory with the OP, where you suggested that there being no obvious profitable applications in the near-term was a reason for inefficiency. If people were choosing subjects areas based on “likely fruitfulness”, then we should expect areas with useful near-term applications to be prioritized.