Global Business Chairman Sees Technology-Driven 'Long Boom'
Emeryville, California, June 1 (Bloomberg) -- Peter Schwartz, chairman
of Emeryville, California-based Global Business Network, a research
and consulting firm, said the world is in the midst of a ''Long Boom,''
an extended period of economic growth fueled by technological change
and free-market economics, the New York Times reported. The futurist
predicts that by about 2005, a telecommunications revolution will make
high-speed Internet, telephone and video access available to everyone,
that by 2010 breakthroughs in biotechnology and gene therapy may allow
medicine to reverse aging, and by 2020 internal combustion engines
will be replaced by cars with fuel cells. While Schwartz is often a
prescient commentator, some of his past predictions have been off, for
example, as in 1981, when he assumed that oil prices would reach $85
a barrel, the paper said. The average price of crude oil in the past
year, starting June 2, 1997, was $19.12 a barrel.
NO WONDER so many tech stocks and 3COM are so low in this market,
they have become investment and value grade stocks rather than speculative.
o~~~ O
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