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by Annatar 1922 days ago
To COBOL's defence, the compiler generates very fast machine code, so COBOL is all right in my book id est screwing around with the intricacies of that language is okay since the end result is a fast, small program. Based on these two criteria, I conclude that it's well worth the effort on the programmer's part.
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it's well worth the effort on the programmer's part

It's worth it if you have all the supporting pieces in place. For example if your OS provides record-oriented I/O and your hardware platform provides dedicated processors for accelerating I/O, then you can write a very small, efficient program to, say, calculate today's interest rate and apply it to millions of accounts. But if you don't have those things then you need to write a lot more code and/or have another program (e.g. a database server) to try and emulate them in software, and it will be slower because it has the overhead of calling between components rather than being tightly integrated.

COBOL I learned on ran under MS-DOS, which does not have record oriented I/O, and it was fast. Very fast.