I saw a conversation on Google Video by Simon Payton Jones talking about it. He mentioned that on that day, people were very interested in writing hardware that specialized in running a specific language, but people figured out the best way to solve the problem: make the compiler smarter. Take a look at Haskell. The GHC releases some ridiculously fast code from high-level constructs, but Haskell is so different from x86 assembler that the two look alien to each other. The same thing happened with Java and Lisp: Java and Lisp work very quickly on modern computers and take a decent advantage of our processors, but Java was originally compiled for weird stack-based byte code and for a long time, people built Lisp machines.
Here is the video, by the way. Most of them are not relevant to the current issue, but you might find it interesting that “it is important why functional programming is important” and how to make unit tests in an easy way.
http://video.google.com/videoplay?docid=-4991530385753299192&hl=en
It was quite recently (the last decade or so?) That compilers were smart enough to make Haskell and Java almost as fast as C, although none of them revealed much of the underlying architecture. Heck, GHC doesn't even use the stack, how bizarre is that?
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