Word: impacted
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Dates: during 1970-1979
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...could hardly have arrived at a more propitious moment, for in this issue TIME presents a special 15-page section entitled "The Computer Society." The report explains just how the world of electronic sorcery works, and examines its impact on our daily lives. To make such a complicated technical phenomenon understandable, a team of six correspondents, five writers, four reporter-researchers and three photographers spent a month interviewing scientists, visiting manufacturing plants and trying out the newest and most exciting computerized products...
Benjamin Rosen, chief microelectronics analyst for New York's Morgan Stanley investment banking firm, sees the chips as the major technological development of our time. Says he: "It will have more impact on our society in the next 20 years than any other invention...
...greater danger to U.S. businessmen is that they may not be able to keep pace with the product innovations made possible by the miracle chips. For example, while the color-television industry was pioneered by a U.S. firm, RCA, American companies were slow to realize the revolutionary impact that transistors and semiconductors were destined to have. As a result, the market was opened to lower-priced foreign models that exploited the new technology. Given that first foothold, Japanese manufacturers have ever since been a growing threat to the U.S. color-TV industry...
...rapidly catching up, in part with the help of government subsidies. For now, Japanese computer imports are less than 1 % of the total U.S. market, but they have multiplied eightfold since 1974 and, according to studies by Quantum Science Corp., a marketing research house, could have a significant impact on IBM itself with in the next five years. Japanese manufacturers have also shown imagination in designing chip-controlled appliances; all the home video recorders sold in the U.S. are made in Japan, as well as the majority of the low-priced pocket calculators...
...school graduates were also copied at other universities. The national scholarship program was of particular importance. It turned Harvard from a regional college for sons of the rich into an internationally-respected institution of higher learning open--more or less--to those qualified to attend, regardless of background. The impact of Harvard's move to a more meritocratic selection process had on budding scientists, humanists and professionals is incalculable...