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To: Arik T.G. who wrote (410)	11/6/1997 9:12:00 AM
From: Crabbe	Read Replies (2) \| Respond to of 686

o I gather that the computer industry has yet to invent the power windows and the light allow wheels, but the engine, transmission, suspension and steering will only be gradually improved from now on. I don't think you understand the computer industry at all. The computer has just been invented for all practical purposes. Sure Charles Babbage invented a computer in the 1840's but didn't have the technology to build it, the US government built biniac and eniac in the 1940's as part of the war effort. Sperry produced the Univac 1 in 1951 as the first commercial computer, Computers reached the power in July of 1967 to match the math processing power of humanity, etc. But the fact remains that the age of the computer is just begining. Forget all the fancy uses and look at the drudgery end of things. Imbedded controllers now produce near perfect toast, again a flippant example but the controller that controls heating elements and timing in a toaster can control processes in industrial equipment to both show quality improvements while reducing costs, both are strong productivity increases. I could probably write a book on that subject alone but the point boils down to the fact that there is an ever increaseing use of computers and imbedded controllers in every facit of business and production, the increased productivity allowes for economic growth of yes even 10% or more per year for many many years to come. That allows the Stock Market to grow at that same pace. As we are on th leading edge of that revolution and 1929 was at the trailing end of the electrification revolution, and if you want the transportation revolution also, it was at a period when growth was no longer meeting expectations but had not been recognized as such. We are in the opposite condition today with growth surgeing around us but our antiquated methods of evaluating it don't allow for the general recognition of it. That is the difference between 1929 and 1997, 1929 was ending the expansion that came from the industrial age, 1997 is begining the expansion that is coming from the information age. Rod Dream a little