My cynical take is that the 20th century exhausted the major scientific discoveries that move various global needles, and now doing well at fostering science matters less.

In the past, if you neglected your institutes and academia, what happened? A rival state got electricity/cars/nuclear weapons first and you would be SOL.

These days, what happens? They invent faster phones? Higher res video?

This take may be a bit hyperbolic but I find it's a good thought exercise prompt.