The paper presents some results of the research that has been systematically conducted over a long period at the Academy of Engineering Sciences of Serbia (AINS) in the area of modern industrial and especially manufacturing technologies, as well as interactions among engineering sciences, technology and the society. The issue of industrialization is closely connected with this research and it is in this context that fresh insights are offered into industrial development, ones that are essentially different from the prevailing stereotypes that have for years been dominant in the management of the economic system in Serbia. Following the introductory chapter that gives a short review of the genesis of Serbian industry, the author offers a vie...