Should-Read: Bill Janeway: Which Productivity Puzzle?

Should-Read: Bill Janeway: Which Productivity Puzzle?: “It is now, just 50 years from the invention of the microprocessor, that the complex of digital technologies have matured…

…to the point that—from the point of view of the user—ICT has begun to disappear, as electricity did for our grandparents. And the combination of Open Source software tools and cloud computing resources means that the cost of experimentation for new web services has plummeted even as the extension of broadband internet expands the addressable market by orders of magnitude. Whatever its failures of corporate culture and leadership, Uber exemplifies the friction-less provision of services that only now can be imagined, developed and deployed at the frontier of the digital economy.

But note: the transformational economic impact of technology does not come as one uniform wavefront. In 1962, Everett Rogers analyzed the “diffusion of technologies” as a process that he mapped to the logistics curve that begins slowly, accelerates to a peak rate of growth and then slows down as the market space becomes saturated…


Brad DeLong


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