ABSTRACT
The world of today has become adept at creating initial innovations. Indeed, technical research which lies at the root of so many of these innovations has itself been institutionalized. The production of technological innovation is today a massive industry, much of it conducted by government organizations because of the large injections of capital required and the uncertain nature of the outcomes. None can doubt, however, that the large-scale organization of technical research has pro duced the basis for enormous and worldwide social and econo mic change. We are only on the verge of the new technological
revolution and it is not yet possible even to visualize its extent and implications. The splitting of the atom, computer tech nology, automation, space travel, communications satellites, transistors and laser beams are only the visible portions of the potential changes that are nearly upon us.
