For most of the past century, the United States was the pre-eminent nation in science and technology. The evidence for that is beyond dispute: Since 1901, American researchers have won more Nobel prizes in medicine, chemistry, and physics than any other nation. Given our history of discovery, innovation, and success, it is not surprising that across the political landscape Americans consider the funding of scientific research to be both a source of pride and a worthy investment. Nevertheless, in his 1961 farewell address, President Dwight D. Eisenhower warned that the pursuit of government grants would have a corrupting influence on...