Word: slower
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Another striking aspect of the French renaissance is the rapid development of the New Economy. France was slower off the mark to embrace the digital revolution than the U.S. and some of its European neighbors, but the number of Internet connections has increased fivefold since 1997, and the financing of high-tech start-ups has tripled in the past year. Says Jacques Attali, a former economic adviser to President Mitterrand: "Two years ago, there was less than $100 million available for start-ups. Now it's nearly $2 billion." Among the new companies that are becoming household names in France...
...said that students may also overestimate how much mail they should be receiving, making the forwarding service appear slower than it actually is. Junk mail is not forwarded to summer addresses, which greatly reducing the amount of mail a student is sent...
...economy, as usual, is doing just what Alan Greenspan wants it to. According to figures released Friday, personal spending, the engine of the boom, rose just 0.2 percent in May - the same level as the revised April numbers. Personal income, the engine of personal spending, rose at a slower rate. And the report's implicit price deflator, one of the Fed head's favorite inflation indicators, was unchanged in May for the second straight month. If this keeps up, Greenspan could sit on his hands for the rest of the year...
...cycle, that economic beast from 20,000 fathoms, is poking up its head again. The rushing tides of the new economy kept it submerged for almost a decade, but they could not drown it for good. It lives! Only it now looks like a pretty tame beast. A little slower growth in U.S. production, a little more inflation before the slowdown takes effect, a bit more unemployment, eventually, maybe...that's about the worst damage that the cycle is expected to inflict. Unless...
...various rates. The new technologies may be self-accelerating, but they are not self-determining. They are the result of ever renegotiated agreement with society. Because they are so potent, their paths may undergo wild oscillations, but I think the trend will be toward the dynamic middle: much slower than the optimists expect, much faster than the pessimists think humanity can bear...