It may seem like it would take longer, but it's worth it to spend the points on L2 Science - even though it costs you 11,000 points, your researchers will earn points faster, so they'll get to that 50,000 faster than if you didn't buy science.
Not knowing the benefit in numbers from buying science, I'm always very leery of buying it before level two of a faction; I can't quantify that it will make up those 11,000 points that I spent by the time I get 50,000 tech points.
On the other hand, the earlier you buy science (And magic L1, should you choose that) the more benefit you gain from it, since it is only of great usefulness before you complete your tech tree; after that, it's only good for the sewing hut.
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