Jensen, P.H. and Webster, E. (2016). “Funding research in universities: The Watt report 2015”, Australian Economic Review 49(2), 184-91.
The Watt Review takes a first-principles approach to how the research and engagement inventive system should be designed for universities in a contemporary setting. Despite raising many important policy issues, the Review misses an opportunity to engage in a discussion about: changing the anachronistic teaching base-funding formula that also funds research; introducing research brokerage and triage services; and changing the engagement culture among academics. Opportunities, currently unquantifiable, are currently being lost through a mechanistic application of intellectual property policies to translation.