As a common trend in neoliberal higher education systems, the New Zealand government recently announced that it would remove the social sciences and humanities from the Marsden Fund in 2025 to support STEM (science, technology, engineering and mathematics) more in order to rebuild the economy. The decision has sparked a range of reactions from various sectors, which generally ask that the government reconsider its decision. I draw from the public reactions and interviews with 26 academics and senior academic research administrators to argue that the impact of government funding cuts for humanities and social sciences on society may be huge if the New Zealand government does not reconsider its decision. The STEM subjects are undoubtedly crucial for the economic growth of a country. However, measuring success by mainly economic contributions may be disastrous because there is much more to success than just attaining economic targets. The humanities and social sciences also contribute to the knowledge economy by teaching society about democracy, philosophy of science, ethics and values that allow peaceful co-existence and make a country prosperous. Therefore, investment in one should not lead to the neglect of the other.