Physics has a lot in common with the US economy: Both have flourished during the past century beyond the wildest dreams of even the most sanguine prognosticators. But even in good times, we worry about the future. Indeed, in physics, we are as often discouraged by discovery as we are by failure. Looking back at the glorious achievements of past decades, we are nervous that our success is a tough act to follow. Looking to the future, our drive to answer increasingly ambitious questions continually ups the ante needed to move ahead, increases the competitive pressures within our field, and stresses everybody out.
Is it fair to assert that physics is in crisis? Certainly physicists in the US do face a crisis of funding; many years of flat research budgets and even flat-flat (that is, constant-dollar) budgets, have slowed and discouraged the new initiatives that constitute the future of US...