Just a short comment on Mr. Governor's message. One of the key themes in
research on the evolution of technologies and industries is that most
people overestimate the short term potential of new technologies (and thus
bubbles occur) and underestimate the long-term potential of new
technologies and industries. for example, it took between 50 and 100 years
(depending on your definition) for most of the benefits of mass production
and electrificaiton to be felt in the US and 50 to 100 years to penetrate
t took almost 30 years before the west recognized that they had been completely
> Ummmmm.... sounds a bit like the Internet, doesn't it Gerhard? I
> personally wouldn't say the web was a "failure", but by late 1999/early
> 2000 it was certainly ready for a shakeout. Thousands of companies have
> subsequently gone bust. Thousands of folks have lost their jobs. And for
> companies such as EMC, Oracle and so on which had told investors the
> internet represented "a new multi-billion dollar industry" the truth was
> out there just waiting to make itself felt. Just look at those share
> prices and revenue streams now.=20
>
> I have still
Received on Fri Dec 28 03:08:53 2001