Pursuit of knowledge for the sake of knowledge was practiced by many philosophers, considering knowledge as civilising and to have intrinsic values. Science and engineering continued to follow parallel trajectories and during the 19th century, some scientists started pursuing engineering (increasingly called technology) with an eye for the use of science in practice. After the second world war, a linear model stating that basic science leads to technological development was proposed. It was challenged by the reverse linear model emphasising that new scientific possibilities are created by technology. During recent decades, several non-hierarchical models analysing relationship between science and technology have been proposed. Increased understanding of the relationship between science and technology, acceleration in knowledge production, and a squeeze on funding of research by Governments has changed methods of knowledge production. Prior to setting up of research universities, knowledge was generated at work places. With the advent of work places manned by highly qualified individuals, it is once again being generated at work places. This lecture analyses the relationship, presents a modified version of an existing representation of the relationship, and explains the characteristics of current methods of knowledge production.