Possible damages from the year 2000 problem

Over the past 50 years computers and software have become indispensable parts of business, commerce, and government. Almost all major corporations now use computers and software as primary tools for accounting, finance, sales support, personnel records, and to a significant degree, manufacturing and distribution. Banks and service organizations use computers and software for virtually all financial transactions. Government agencies use computers for all vital records and for keeping track of data on almost every citizen. The year 2000 software problem would have been invisible if it had occurred in 1950 and only a minor annoyance if it had occurred in 1975 since computers and software were not, at that time, key business tools. But when the problem occurs in 2000 it has at least the potential to damage the economies of every industry and every industrialized nation. Reviews the kinds of damage that might occur from the year 2000 problem and currently understood by software specialists, but not yet widely understood by corporate executives, government officials, and the international press.