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BT would become a high technology growth company, rather than an old economy consumer services provider.
Ackerman wanted to put what money he did have into "very high technology growth areas where we though we could really make a difference".
Our results suggest that critics of industrial policy are correct that high technology growth is organic and endogenous, yet state governments are able to "pick winners and losers" in ways that grow their local economy.
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But it does not seem to be a concession by the company's longtime leaders -- Bill Gates, the chairman and co-founder, and Steven A. Ballmer, the chief executive -- that Microsoft, the prototypical high-technology growth company, is slowing down.
Mr. Florida, now a professor at the University of Toronto, and Mr. Gates collaborated on a 2002 study for the Brookings Institution, called "Technology and Tolerance: The Importance of Diversity to High-Technology Growth".
Infrastructure strategy programs also facilitate high technology job growth in places where local advantages already exist.
Byrne is no fan of high-flying technology growth stocks, but she did buy IBM four years ago when it was going for around four times her expectation of its 1994 cash flow.
The mayor of Naples, Rosa Russo Jervolino, agrees that the city has suffered from a loss of basic industries over the past decade, but points to aerospace and high technology as areas of growth.
Correction: December 3, 2000, Sunday An article on Nov. 19 about the growth of high technology industries in New Jersey referred incorrectly to technologically related companies in the state.
The group was formed two and a half years ago to further the growth of high technology on Long Island.
The fourth problem is positive externalities, like the way some industries (mainly high technology) open up paths of growth for the entire economy.
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