As experts seek explanations for America's record breaking performance in the current world economy, it is tempting to credit our bountiful natural resources and our diverse, hardworking population. But many other countries - and even our own ancestors - have enjoyed similar resources without producing an economic boom such as the United States achieved in the late 20th century. The credit for our recent success really goes to the powerful system we have generated to create new knowledge and develop it into technologies that drive our economy, guarantee our national security, and improve our health and quality of life. This book explores some of the remarkable, tangible benefits to our nation from the sustained funding of research and development (R&D). The President's Committee of Advisors on Science and Technology (PCAST) prepared this book in response to Vice President Gore's request. The Vice President called for a new compact between our scientific community and our government - one that would emphasize support for fundamental science and a shared responsibility to shape our breakthroughs into progress. The Vice President turned to PCAST for help in illuminating the benefits of our past and present investments in science and technology. The technologies covered here - those dealing with information, global positioning, biotechnology, food, the environment, and manufacturing - illustrate how much we have come to rely on technology and take it for granted in our everyday lives. But the marvels of today are really the fruits of research seeds planted decades ago - investments that have not only given us new technologies, but have also helped educate generations of engineers and scientists who now form an essential component of our modern workforce. The very fact that these advances required decades of investment stands as a warning against complacency in our future investment strategy. As the Vice President has noted, the government and the private sector must work together to ensure that today's investments in research and development are sufficient to yield similar payoffs to society in the 21st century. Close cooperation with our international partners is also crucial to the success of this venture, since scientific breakthroughs occur with no regard for national borders.