Silicon Valley is the birthplace of the microelectronics technology revolution that created semiconductors, microprocessors, and personal computers. This introduction presents an overview of the key concepts discussed in the subsequent chapters of this book. The book analyzes the reasons that caused the emergence of Silicon Valley. It examines the market, economic, and competitive forces that made possible Silicon Valley's growth. It determines the reasons for its declining competitiveness during the 1980s. It presents the appropriate data and pertinent information on the growth and decline of Silicon Valley, its current situation, and the challenges it faces for the next century. The book discusses the relevant macroeconomic theory, principles, and national ideologies. It describes the factors that caused the genesis and growth of Silicon Valley, propelling it to world-wide prominence. The book offers specific suggestions for Silicon Valley to reinvent itself and create new comparative advantages that would enable it to regain and retain global high-technology dominance into the twenty-first century.