Personally I LOVE Python but I always feel it is the 2nd best choice. I do use Python but it rarely is the best tool to use for the problem you are solving. Maybe Pypy will turn this around, and I hope so.
Actually, the time-critical loops are usually implemented in C or Fortran. Much of SciPy is a thin layer of code on top of the scientific routines that are freely available at http://www.netlib.org/. Netlib is a huge repository of incredibly valuable and robust scientific algorithms written in C and Fortran. It would be silly to rewrite these algorithms and would take years to debug them. SciPy uses a variety of methods to generate “wrappers” around these algorithms so that they can be used in Python. Some wrappers were generated by hand coding them in C. The rest were generated using either SWIG or f2py. Some of the newer contributions to SciPy are either written entirely or wrapped with Cython.
A second answer is that for difficult problems, a better algorithm can make a tremendous difference in the time it takes to solve a problem. So using scipy’s built-in algorithms may be much faster than a simple algorithm coded in C.
http://www.scipy.org/scipylib/faq.html#how-can-scipy-be-fast...
Too many people just have the wrong impression, thinking that PyPy plans on re-implementing all the libraries that Numpy and scipy use but that's just completely false.
They have re-implemented the Numpy array so that it can take advantage of the JIT and so that parts of an algorithm implemented In Python that uses Numpy can also be optimized. Unlike what occurs when using Numpy under CPython where the Python code does not get optimized unless it is converted to Cython, C Code, or some alternative to Python to have it be optimized.
For me business applications are what you would use Cobol, Clipper, Java, Delphi, C#, Eifel, ....
Of course Fortran makes sense for number crushing, but that is the language domain, not doing CRUD, ETL or distributed computing stuff (not counting MPI here).
Do you intend to refer to a product done in those areas Fortran in modern days, maybe with Fortran 2008?
Outside scientific computing and heavy number crushing algorithms and libraries, I don't see a use for it.
I'm not saying anyone should use it today lol. Julia and R are the best for that sort of stuff. Way the hell ahead of Fortran. Although I thought about making a nice web application in Fortran just to screw with people who eventually try to extend it and gasp in horror. ;)