Formulation
Formulation is a term used in various senses in various applications, both the material and the abstract or formal. Its fundamental meaning is the putting together of components in appropriate relationships or structures, according to a formula. Etymologically formula is the diminutive of the Latin forma, meaning shape. In that sense a formulation is created according to the standard for the product.
Technology
Technology ("science of craft", from Greek τέχνη, techne, "art, skill, cunning of hand"; and -λογία, -logia) is first robustly defined by Jacob Bigelow in 1829 as: "...principles, processes, and nomenclatures of the more conspicuous arts, particularly those which involve applications of science, and which may be considered useful, by promoting the benefit of society, together with the emolument [compensation ] of those who pursue them" .
Technology
We cannot idealize technology. Technology is only and always the reflection of our own imagination, and its uses must be conditioned by our own values. Technology can help cure diseases, but we can prevent a lot of diseases by old-fashioned changes in behavior.
President Bill Clinton Remarks at Knoxville Auditorium Coliseum, Knoxville, Tennessee (10 Oct 1996) while seeking re-election. American Presidency Project web page.
