Book excerpt: The way in which academic engineering research is financed and public expectations for the outcomes from such research are changing at an unprecedented rate. The decrease in support of defense-related research, coupled with the realization that many U.S. technological products are no longer competitive in the global market, has sent a shock wave through research universities that train engineers. This book argues for several concrete actions on the part of universities, government, and industry to ensure the flow and relevance of technical talent to meet national social and economic goals, to maintain a position of leadership in the global economy, and to preserve and enhance the nation's engineering knowledge base.