This is a trend that stretches well back 50 years, some say to the establishment of the postwar DoD funding system. I recommend Paula Stephan's How Economics Shapes Science[1] for a comprehensive view of both the underpaid and increasing budget trends you mention.
(The bottom line is that the money goes to administration costs as mentioned, leading institutions to expand to stay relevant, thus building more buildings and hiring more PIs with full expectation for them to be funded via grants. Meanwhile, the average researcher's earnings are mostly unchanged.)
Comments
This is a trend that stretches well back 50 years, some say to the establishment of the postwar DoD funding system. I recommend Paula Stephan's How Economics Shapes Science[1] for a comprehensive view of both the underpaid and increasing budget trends you mention.
(The bottom line is that the money goes to administration costs as mentioned, leading institutions to expand to stay relevant, thus building more buildings and hiring more PIs with full expectation for them to be funded via grants. Meanwhile, the average researcher's earnings are mostly unchanged.)
[1]http://www.amazon.com/Economics-Shapes-Science-Paula-Stephan...