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> I ask that we consider whether any given piece of blue sky research is likely to appreciate or be a money sink

Good idea in theory perhaps, but how do you suggest to make that assessment?

I think ironically the more obvious the return on investment of the research is, the less sense it makes for government to fund it - the private sector is more likely to fund something where the route to commercialisation is clear.

Or: basic science is a public good, and is underinvested in by free markets.

DARPA's rule is that if more than 10% of their projects succeed, they're not taking enough risks. Blue sky projects are presumably much, much lower probability than that.

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