I recently read a book written about Harvard by members of the classes of 1939, 1940 and 1941. The book's main point was that the world had changed drastically due to the Great Depression and World War II, which in turn affected Harvard in unprecedented ways. Particularly, the pleasant, calm and noncompetitive atmosphere combined with the prospect of a guaranteed safe and prosperous future, which had dominated Harvard for more than a century, were vanishing at a fast pace and being replaced by the gloom of a rough and uncertain future.

Both Harvard and the outside world have not only survived this development but prospered and grown at an unprecedented rate. As we are moving toward the turn of the century, however, drastic changes are occurring. Most notably, the opening of emerging markets, specifically South East Asia and Eastern Europe, and the high-tech revolution have increased competition, challenges and, most notably, uncertainty. Even at a university with both stature and tradition, these changes have not passed by without notice, and a situation not dissimilar to the one described by the members of the classes of 1939, 1940 and 1941 is emerging. I would like to offer some ideas abut the impact these rapid developments have had on Harvard and its students and what possibilities exist to cope with these challenges in a beneficial way.

When the Iron Curtain fell in 1989, both the United States and Western Europe celebrated the beginning of a new era. Seven years later, economic realities have transformed much of the initial joy into uneasiness; there have been similar developments in Asia. Despite the increased opportunities these new emerging markets and peoples offer, they have also increased competition dramatically. International trade, previously heavily regulated and dominated by informal agreements and long-term relationships, has opened to fierce worldwide competition. The low wages and social security costs combined with a hard-working workforce in the emerging markets have initiated a somewhat brutal fight for survival in business. Companies undertook massive restructuring and layoffs in order to compete. Working hours have increased in the United States, and unemployment has increased in Europe while the standard of living has remained unchanged.

Even at Harvard, the changes have been more than noticeable. The student body has become steadily more qualified and hard-working: Competition for academic and extracurricular achievement and summer jobs, which is crucial for success in both graduate school admissions and recruiting, has risen to new heights every year. Also, the increased influx into concentrations such as economics, applied mathematics and computer science may be attributed to these factors. John Boynton, a senior consultant at Mercer Management Consulting, once summarized this development concisely: "When I was an undergraduate at Harvard in the mid-eighties, Harvard students knew essentially nothing about business and the real world. Nowadays, some of the students I interview know more about the field than I do."

The speed of the high-tech revolution has also had quite similar effects. Fifteen years ago, almost all papers were burdensomely typed, and computers were reserved for a few freaks, some of whom would eventually turn into billionaires. Nowadays, however, the technical skills required to utilize the resources of the computer have become a must, and somebody expecting to succeed in either academia or a professional job has to reach an advanced level of sophistication. In addition, he has to keep up steadily with the technological advances. The computer has undoubtedly made many activities easier, but on the other hand much of one's time is spent in front of a terminal figuring out new software packages. The computer has certainly made our world more convenient, but also more fast-paced, and it has also eliminated many market inefficiencies.

Harvard and its student body have utilized the computer rapidly, and most developments have actually eased workloads and communication. However, it is worth nothing that both the computer and the telecommunication fields, two of the fastest-growing business fields, have been somewhat neglected by Harvard students considering future careers. A lot of potential remains untouched.

The globalization of our societies and economies actually might provide many more opportunities than the above discussion indicates. Certainly, the comfort of a safe, prosperous and leisurely existence in a guaranteed profession may vanish for almost all but a select few, and even students of this prestigious and established institution are not likely to be excluded from this development. In this respect, one can be reminded of the early 1940s.

On the other hand, the changes mentioned above provide unparalleled opportunities, in particular for energetic and well-educated students.

The high-tech revolution and the globalization of the economy has created a high demand for people with motivation, work ethic, creativity, flexibility and international experience, skills that are fostered at Harvard (examples can be found inc consulting, finance, medicine and other growing professions). I would like to quote Professor David Laibson, who responded this way in an Economics 1011b lecture to a question about Pat Buchanan: "Students of this university and this class will be those who benefit most from the drastic changes in our economy. The demand for lowly-skilled workers and their standard of living have decreased sharply. On the other hand, the need for smart and highly-qualified people has risen dramatically, and their incomes have adjusted accordingly."

It will almost certainly take a lot more effort than previous Harvard students have been used to, as well as a change in lifestyles, most notably increased flexibility, mobility, ability to change and increased dedication to one's occupation to succeed in the next century. On the other hand, it is more than ever before possible to create something new and meaningful which adds social value, rather than administering an established bureaucracy. Previously, closed markets have to be developed, adequate infrastructure, financial and political systems have to be established. In academia, the opportunities for new research have grown exponentially with the advent of powerful computer tools and access to new information; someone has to do this research. Therefore, the future might bring high demands and competition even for Harvard students, but the demands can be fun, meaningful and both personally and financially rewarding for those who decide to meet the challenges.

Some of the well-known comforts which we have become accustomed to may well disappear when most of us have entered the job market, but the new opportunities for growth and development certainly outweigh the grief over loss of security. Somebody has to take the initiative to take up the plentiful opportunities which have been emerging over the last decade, and Harvard students belong to the group of those best-prepared to do so.

Gerald B. Horhan '98-'97 is president of the Rotoract Club of Harvard College, an organization similar to Rotary International which encourages international understanding, career development and community service.