I don't know my Schumpeter very well, or long-wave theory either, but computers and related instruments have been around for quite a long time now - in use by governments since the 1950s, and by business since the 1960s. Did earlier transformative technologies - steam engine, railroad, car, radio - take so long to have a long-wave upkick? Greenspan was citing a paper recently - is this what Rakesh meant by: >Paul David makes in his widely circulated paper >comparing the dynamo and the computer - that asserted that it took decades for the electric motor to have an impact on productivity. But what about the other world-transforming gadgets? Did they operate with a delay of 30 or 40 years? Doug -- Doug Henwood Left Business Observer 250 W 85 St New York NY 10024-3217 USA +1-212-874-4020 voice +1-212-874-3137 fax email: <[EMAIL PROTECTED]> web: <http://www.panix.com/~dhenwood/LBO_home.html>
