What are the technical reasons why languages like Python and Ruby are interpreted (out of the box) instead of compiled? It seems to me like it should not be too hard for people knowledgeable in this domain to make these languages not be interpreted like they are today, and we would see significant performance gains. So certainly I am missing something.
In a compiled language, the loop you get into when making software is

Make a change
Compile changes
Test changes
goto 1

Interpreted languages tend to be faster to make stuff in because you get to cut out step two of that process (and when you're dealing with a large system where compile times can be upwards of two minutes, step two can add a significant amount of time).
This isn't necessarily the reason python|ruby designers thought of, but keep in mind that "How efficiently does the machine run this?" is only half the software development problem.
It also seems like it would be easier to compile code in a language that's interpreted naturally than it would be to add an interpreter to a language that's compiled by default.
Why is (python|ruby) interpreted?