Abstract

N THE LATE nineteenth century and the early twentieth century, there was a series of new inventions--electricity, the telephone, the motorcar, and the airplane. Now, as the twenty-first century dawns, we have the invention of the computer, accompanied by the emergence of telecommunication modalities. There is a common theme here. As a species, Homo Sapiens sapiens over the ages has toiled consistently at improving one fundamental aspect of its existence--communication. As a result, the world has shrunk progressively, and increased the ability to transmit data, develop information, acquire knowledge, and, finally, assimilate wisdom. The ultimate communication improvement is the virtual environment, where distances will become inconsequential, time will become immaterial, and knowledge and wisdom will no longer be the prerogative of the privileged few. Throughout the history of civilization, from the invention of the printing press through the development of the automobile to the invention of the computer, we observe a cyclical phenomenon. There is an initial reluctance to accept the new technology, followed some time thereafter by a massive incursion of the new technology, penetration throughout the market, and an acceptance, which moves on to refinement of the technology. We have seen this paradigm replicate itself in every element of human endeavor. This cycle in the marketplace occurs in three

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