I [suspect] we are throwing more and more of our resources, includingthe cream of our youth, into financial activities remote from the productionof goods and services, into activities that generate high private rewardsdisproportionate to their social productivity. I suspect that the immensepower of the computer is being harnessed to this 'paper economy', not to dothe same transactions more economically but to balloon the quantity andvariety of financial exchanges. . . I fear that, as Keynes saw even in his day, the advantages of the liquidity and negotiability of financial instrumentscome at the cost of facilitating nth-degree speculation which is short-sightedand inefficient.