CHAPTER THREE
Business and Technology
TECHNOLOGY HAS BEEN FRONT-PAGE NEWS for well over a century—and never more so than today. But for all the talk about technology, not much effort has been made to understand it or to study it, let alone to manage it. Economists, historians, and sociologists all stress the importance of technology—but then they tend to treat it with “benign neglect,” if not with outright contempt. (On this, see the “Historical Note” at the end of this essay.)
More surprisingly, business and businessmen have done amazingly little to understand technology and even less to manage it. Modern business is, to a very considerable extent, ...
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