In a recent discussion by three fellows of the American Agricultural Economics Association it was observed that if the Land-Grant University System were to be created today there would be no extension component. For those involved in the discussion this was not a matter of controversy--it was fact! That is a sobering thought for one who has committed a major share of his professional career to extension education. Is extension an antiquated system? The goal of extension as a public tool for accomplishing technology transfer is not antiquated. That need is greater than ever. If not effectively dealt with there is substantial evidence that the family farm will be in an increasingly difficult competitive position. While the basic goal of extension may not be antiquated, major changes in how extension is organized and conducts its business will be required. The purpose of this paper is to explain the basis for this concern. In the process some of the major strengths, weaknesses, and challenges to extension will be pointed out.