The Role of Industry

Publisher Summary Economic development is an aim of industry, whether by the promotion and use of technical competence or otherwise, it does not matter. The fact is that, as the scientific world comes up with new insights, the community at large—including industry—would start to apply these new insights in due course. Economic activity—including a war—stimulates scientific development. The roles for the university include: as an institution that provides higher education. Any arrangements with industry on research and development should be supportive of that role and not destructive or subversive. The second role is as a generator of new knowledge, whether in science or in technology. Industry and university need each other, as they exchange people and leapfrog from scientific discovery to invention to scientific discovery, as aero-dynamics made the flying machine possible and aerodynamics blossomed through the flying machine. But, at the same time, the university should continue its random walk in search for truth and knowledge.