
American Growth Has Slowed Down. Get Used to It - rubidium
http://www.politico.com/magazine/story/2016/09/economic-growth-jobs-recession-slowed-technology-214220
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rubidium
"So despite all the cheerleading from the Bill Gateses and Mark Zuckerbergs
about our recent innovations, Silicon Valley and even many economists have
failed to take into account something crucial: The economist’s basic measure
of technical progress has been lagging. Overall, growth comes from improved
productivity. ... And the data show the sad fact that TFP growth since 1970
has been barely one-third of the rate achieved from 1920 to 1970."

This makes me wonder, in a head-to-head measurement (which would be difficult
to do in any sort of correct fashion) would refrigeration beat computers in a
head-to-head competition of what raised GDP output more? I'm guessing it
would. How about the combine harvester?

Morning dose of humility to our era and work.

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f_allwein
any system that relies on constantly rising consumption of resources (=
growth) on a planet with finite resources is bound to fail at some point
anyway. Perhaps it's time to think about better metrics?

Yes, there can be growth without a rise in consumption of resources, but
realistically, as people make more money, they will end up buying more stuff/
taking more flights etc.

