Adams's account highlights Britain and the United States from early modern times onward. Locating the roots of the Industrial Revolution in British economic and social institutions, he goes on to consider the new forms of enterprise in which it was embodied and its loss of momentum in the later nineteenth century. He then turns to the early United States, whose path toward industrialization initially involved considerable "technology transfer" from Britain. Propelled by the advent of mass production, world industrial leadership passed to the United States around the end of the nineteenth century. Government-supported research and development, guided partly by military interests, helped secure this leadership.
Today, as Adams shows, we find ourselves in a profoundly changed era. The United States has led the way to a strikingly new multinational pattern of opportunity and risk, where technological primacy can no longer be credited to any single nation. This recent trend places even more responsibility on the state to establish policies that will keep markets open for its companies and make its industries more competitive. Adams concludes with an argument for active government support of science and technology research that should be read by anyone interested in America's ability to compete globally.