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Technology Stocks : Qualcomm Incorporated (QCOM)

QCOM 165.13

+1.1%

Nov 26 3:59 PM EST

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To: Ramsey Su who wrote (9594)	4/2/1998 9:12:00 PM
From: dougjn	Read Replies (1) of 152472

Thought provoking: <<After all, what is the strength of Japan that propelled them to the second largest economy? I can't think of anything that all the other Asian knock-off artists can't duplicate in due time.>> I think the essence of Japanese success was an <enforced> high level of corporate and individual savings and investment in the future; high levels of personal/educational investment in the future; and a relative lack of social conflict and worker discipline. All of this worked beautifully in a semi command society. I.e., an emulation of existing blueprints to success if you can only show enough discipline society. What they are weak on is self righting, homeostatic mechanisms that work when it is not obvious which way is the right way to go. (Which is the situation this country is very often in, but whose mechanisms work very well for.) Probing every thing to find what works. Creativity. Funding of creative probing into what might work (but will probably fail), but if it works, will be big. Etc., etc. They also face a huge population bulge problem. The U.S. in contrast has allowed in huge legal, and winked at huge illegal immigrant young populations. Many of whom create huge social problems with the current mix especially, but at least help the demographics. Different set of problems. We do seem to have a big dumbing down problem. I.e., virtually everything in the U.S. supports huge growth in the population of the less educated and indeed the less successful and less smart. And the reverse for the more successful.

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