We discuss the light-cone quantization of gauge theories as a calculational
tool for representing hadrons as QCD bound-states of relativistic quarks and
gluons, and also as a novel method for simulating quantum field theory on a
computer. The light-cone Fock state expansion of wavefunctions provides a
precise definition of the parton model and a general calculus for hadronic
matrix elements. We present several new applications of light-cone Fock
methods, including calculations of exclusive weak decays of heavy hadrons, and
intrinsic heavy-quark contributions to structure functions. Discretized
light-cone quantization, is outlined and applied to several gauge theories. We
also discuss the construction of the light-cone Fock basis, the structure of
the light-cone vacuum, and outline the renormalization techniques required for
solving gauge theories within the Hamiltonian formalism on the light cone.Comment: 206 pages Latex, figures included, Submitted to Physics Report
