Expository paper providing a historical survey of the gradual transformation of the "philosophical discussions" between Bohr, Einstein and Schr��dinger on foundational issues in quantum mechanics into a quantitative prediction of a new quantum effect, its experimental verification and its proposed (and loudly advertised) applications. The basic idea of the 1935 paper of Einstein-Podolsky-Rosen (EPR) was reformulated by David Bohm for a finite dimensional spin system. This allowed John Bell to derive his inequalities that separate the prediction of quantum entanglement from its possible classical interpretation. We reproduce here their later (1971) version, reviewing on the way the generalization (and mathematical derivation) of Heisenberg's uncertainty relations (due to Weyl and Schr��dinger) needed for the passage from EPR to Bell. We also provide an improved derivation of the quantum theoretic violation of Bell's inequalities. Soon after the experimental confirmation of the quantum entanglement (culminating with the work of Alain Aspect) it was Feynman who made public the idea of a quantum computer based on the observed effect.

15 pages, 2 figures. Dedicated to the memory of Professor Christo Christov (1915-1990)