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III. [[underline]] Science and Technology in an Industrial Economy [[/underline]]

In my discussions with President Park, we touched on the dominant force which science has exerted on our lives in modern times and on the vital role which science and technology play in shaping the development of modern nations. We noted that a society which is entirely dependent on foreign technology and technicians cannot realize its full potential and cannot be truly free and independent until it can participate itself in creating the technology it needs.

Granted the central importance of science and technology to industrial development, a nation must decide not only how much of its resources it can afford to devote to research and technological development but also how to allocate its support between these two areas. It is important to recognize (a) that even in the most advanced countries "pure" research utilizes only a small percentage of the total scientific expenditure, and (b) that applied research and technological development often require more ingenuity, imagination, and creativity than basic research.