This paper has the following goals: – To survey some of the recent developments in the field of derandomization. – To introduce a new notion of time-bounded Kolmogorov complexity (KT), and show that it provides a useful tool for understanding advances in derandomization, and for putting various results in context. – To illustrate the usefulness of KT, by answering a question that has been posed in the literature, and – To pose some promising directions for future research.