Electronics in a changing research climate

The research climate, in the US and in Europe, is now undergoing considerable change. While the prevailing trends are different, the research scenes on both sides of the Atlantic are becoming more similar than they were in the past. Long term effects will be described and contrasted to transient short-term effects. What is happening in electronics is a good indicator of a more general evolution, since technological progress in electronics has always been much faster than in mechanical and electrical power engineering. The rapid penetration of electronics into electric power systems, caused by the energy crisis, creates some distinct problems having particular impact on the innovation climate.