This is the first part of an essay on developmental trends in science, technology and technology policy as they appear at the onset of the 21st century. These subjects are first surveyed to depict recent changes in the structure of industry, university, and government (the three major players in this arena). These changes represent substantial shifts in the way we do business and in the very nature of the business we do. Other changes are the result of self-perception, or misrepresentation of the role of each of the three primary agencies in the science economy. This misrepresentation may be the result of competition for access to resources (such as access to the highest level of skilled staff, or enhanced government funding), or for reasons as mundane as simple ego gratification. In any event, these misperceptions seriously impede our ability to formulate programs addressing real societal needs.