Academic research has evolved tremendously over the last century. The middle of the twentieth century saw the development of research and the strengthening of trust both within academia and between academics and external actors. Since the later part of the twentieth century, however, the development of academic research has been characterised by reduced trust in universities and academics. It is argued that the lowering degrees of trust in universities and science are reflected in the current incentives in academia, often driven by governmental funding agencies, and the result of the altered position of universities within innovation systems. Universities are still important contributors to knowledge production, but they have slowly become more peripheral within innovation systems. Rather than setting their own research directions, they face strong incentives to do research primarily to serve others. This requires them to interact with organisations with which they have little in common and with which they find it difficult to communicate. The academic research pendulum seems to have swung too much towards knowledge transfer and application, with problematic outcomes. These developments indicate that it is necessary to reassess the purposes and potential benefits of academic research to restore trust in universities and increase the integrity and usefulness of research.