Why Is Productivity Down When Innovation Is Way Up

November 11, 2019

Our rate of economic productivity growth, for example, is going down, not up. The rate of productivity growth in the US has been just 1.1%, far below the 3.7% rate of growth we achieved from 1947 to 2007, according to the US Bureau of Labor Statistics. This is not what exponential technology has promised us. Indeed, I consider it an Exponential Paradox: technological advance is accelerating, while economic productivity growth is declining.