Why productivity growth has stalled since 2005 (and isn't about to improve soon)
For me the high point was around 2005, fifteen years ago. I don’t know if you can remember how you felt at the time, but for me the surge in living standards, driven by an ever-building surge in output per working hour (“productivity”) suggested things were building on themselves: each new innovation was making use of the ones that had come before to the point where…. Ray Kurzweil, now the director of research at Google, summed it up in a book released in 2005 itself, titled The Singularity Is Near. Singularity was “a future period during which the pace of technological change wil...