Pushing the complexity barrier: diminishing returns in the sciences

Are the sciences not advancing at an ever increasing speed? We contrast this popular perspective with the view that science funding may actually see diminishing returns, at least regarding established fields. In order to stimulate a larger discussion, we investigate two exemplary cases, the linear increase in human life expectancy over the last 170 years and the advances in the reliability of numerical short and medium term weather predictions during the last 50 years. We argue that the outcome of science and technology (S&T) funding in terms of measurable results is a highly sub-linear function of the amount of resources committed. Supporting a range of small to medium size research projects, instead of a few large ones, will be, as a corollary, a more efficient use of resources for science funding agencies.