Science impact on the economy

Science adds $330b to economy

January 22, 2016.07:48pm
By Bashorun Bimbola
Science adds $330b to economy: report
Science contributes $330 billion to Australia's economy annually and scientific advances over the past 30 years are helping to keep about 10 per cent of the workforce - or one million Australians - in jobs, new analysis shows.
The new report has been released by outgoing Chief Scientist, Professor Ian Chubb, on his last day in the job.
It builds on research released last year that found the value of physics, mathematics and chemistry to the economy was $292 billion.
Together the sciences contribute $330 billion annually, including $84 billion in exports, it found.
More than a quarter of the economy was found to exist due to scientific advances.
Prof Chubb believes it's overwhelmingly clear that without advances in science, technology, engineering and mathematics the economy would be smaller and jobs would be "greatly depleted".
"We would suffer and some of us would die from conditions we can diagnose and treat today," he will say at the report launch in Canberra on Friday.
"We would not have the capacity to look at the future in the expectation it will be better than the past."
Conducted by the Australian Academy of Science and the Centre for International Economics, the report is based on advances in the past 20 to 30 years and is prepared to help formulate policy.
The report launch in Canberra on Friday will double as a send-off for Prof Chubb, who rounds out his five-year appointment to make way for engineer and entrepreneur Alan Finkel.
Prof Chubb will use part of his farewell speech in channelling fellow science lover, US President Barack Obama, and reading out part of his last State of the Union address.
Posing Mr Obama's four questions on how to achieve fairness, better use technology, ensure safety and implement effective politics, Prof Chubb will say they can all be answered with one word: science.
"The president gave a long answer, because he's the president," he joked.
"I will give a short one. Science.
"And a slightly longer one: science, technology, engineering and mathematics."
Originally published as Science adds $330b to economy: report

Comments

Post a Comment

Popular posts from this blog

Breaking News: Mavin Records Explores Multi-Million Dollar Sale or Investment Deal

Image
  Mavin Records, a leading Nigerian and African music label, is reportedly exploring investment opportunities or the possibility of an outright sale. According to a recent article published by Billboard on October 6, 2023, Mavin Records is currently in discussions to secure external investment, which could involve the acquisition of a portion of the label or an outright sale. The report indicates that several investment firms and major record labels, including Universal Music Group (UMG) and HYBE, have expressed interest in this potential deal. Billboard's report suggests that the investment or sale could be valued at approximately $125 million initially, with the potential to increase to as much as $150 million or even $200 million. Notably, Mavin Records has previously entered into collaborative agreements with international entities. For instance, Rema's music in the United States is distributed by Virgin Music, an independent distribution company under UMG. Founded by Niger
Read more

Atiku Expresses Concerns Over Tinubu's Certificate Controversy: Nigeria's Reputation at Stake

Image
Atiku Abubakar, the former presidential candidate of the Peoples Democratic Party (PDP) in the 2023 elections, has raised concerns about the controversy surrounding President Bola Tinubu's Chicago State University certificate submitted to the Independent National Electoral Commission (INEC). He emphasized that this issue is not just about individuals but affects Nigeria's reputation as a whole. Atiku called upon all relevant stakeholders to uphold the principles of democracy by ensuring transparency and truthfulness regarding the certificate submitted by the President. He also highlighted that the university had released Tinubu's academic records and complied with the court's ruling to do so. despite President Tinubu's objections, a federal judge, Nancy Maldonado, overruled and ordered the release of the academic records, emphasizing the importance of transparency in such matters. This ongoing controversy has significant implications for Nigeria's image on the g
Read more

Mohbad Was Killed Because He Is A Betrayer – Portable

Image
Portable, a controversial Nigerian artist, has made a statement suggesting that the late Ilerioluwa Aloba, also known as Mohbad, met an unfortunate fate due to betrayal. According to Portable, this betrayal was by individuals associated with Marlian Records, referring to them as Mohbad's enemies. He explained that Mohbad was initially nurtured and supported by Marlian Music but eventually distanced himself from them, accusing the label of not showing him love. Portable insinuated that this departure and Mohbad's association with rivals became the catalyst for his untimely demise. Furthermore, Portable suggested that those responsible for Mohbad's death had ulterior motives, aiming to frame Naira Marley, the label's leader. He expressed hope that Naira Marley would be safeguarded from this situation, emphasizing that Naira Marley had assisted Mohbad out of goodwill, only to face betrayal in return.
Read more