Articles tagged digital economy

You ever get that feeling, as you spin through vast libraries of media and information at the twitch of a finger, shuttling between the supercomputer in your pocket to the one on your wrist to the paper-thin one that hinges shut on your desk, that things just aren’t, I don’t know, better?

Well, according to The New York Times, things aren’t. At least not economically. From the article:

For several years, economists have asked why all that technical wizardry seems to be having so little impact on the economy. The issue surfaced again recently, when the government reported disappointingly slow growth and continuing stagnation in productivity. The rate of productivity growth from 2011 to 2015 was the slowest since the five-year period ending in 1982.

The piece contrasts two ideas. The first is that today’s digital innovations aren’t yielding the economic increases that the big-time inventions of yesterday did—electricity, modern transportation, medicine. The opposing idea is that the only thing we can blame today’s digital depression on is for making us more impatient since most industries have not fully embraced the transformation yet and will need to before gains can be realized. That’s the way all technology is, proponents of this side argue.

Meanwhile Silicon Valley continues to find investors and is every day closer to finishing that valley-sized spaceship so they can leave the Earth and all of us suckers behind.

Seriously, though, The New York Times piece is an interesting read. Although its hope vs. cynicism ping-pong tournament seems to fall a little more on the latter scale (cynical pieces always make for more interesting, more cathartic articles for some reason). But whether we haven’t fully committed to digital transformation or we are mistaken about assumptions of ever-marching technology progress, one thing is for certain…hold on, just got an app notification.

Photo credit: David Ingram