If nothing like the first and second industrial revolutions had ever happened before, what is to say that anything similar will happen again? Then, perhaps, the global economic slump that we have endured since 2008 might not merely be the consequence of the burst housing bubble, or financial entanglement and overreach, or the coming generational trauma of the retiring baby boomers, but instead a glimpse at a far broader change, the slow expiration of a historically singular event. Perhaps our fitful post-crisis recovery is no aberration.
Gordon’s research suggests as much. You can watch him summarize it in the video below.
MIT’s Erik Brynjolfsson offers a rebuttal below.
But as the New York piece makes clear, a deeper dive into the research suggests that Brynjolfsson’s view isn’t as far from Gordon’s as we might like. Don’t do any research into this if you’re already depressed. It’s very important but even more sobering.
Have a good week-end.