Technology Might Finally Be Ending The Great Stagnation

in Threespeak3 years ago (edited)

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The Great Stagnation is a concept put forth by a couple of economists who took a look at the productivity curve in the United States and notices that it radically slowed starting in the early 1970s. Through most of the last 5 decades, this metric has seen a vast underperform, to the point it doesn't even meet the linear, let alone exponential, trendline.

In this video I discuss how technological progress is moving outside the one area that it really excelled during the last 30 yaears, digitization. We are now potentially seening many other technologies stepping up that could enhance what we experience over the next couple decades.


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it really excelled during the last 30 yaears

Years.

24/7 trucking would be a game changer. I am hoping it goes well as it would decrease transportation costs.

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Summary:

In this video, Task delves into the economic impact of technology, discussing the concept of the great stagnation, which suggests a decline in productivity despite technological advancements. He points out the exceptional progress made in the computer world in the last few decades while highlighting the lack of similar advancements in other sectors like energy, manufacturing, housing, transportation, and education. Task emphasizes the need to embrace the internet as a central component of society to drive innovation and economic growth, mentioning the potential of Web 3.0 and cryptocurrency in contributing to this transition. He also touches on advancements like autonomous vehicles, biotechnology, and decentralized technologies, raising questions about the direction of technological investments and the challenges hindering progress in various industries.

Detailed Article:

Task delves into the economic implications of technological evolution, focusing on the concept of the great stagnation, which suggests reduced productivity growth despite technological advancements. He alludes to the significant progress made in the computer and digital world over the past few decades, contrasting it with the lack of similar advancements in various other industries. Task highlights how sectors like energy, manufacturing, and housing have not seen significant improvements, leading to an overall stagnation in productivity.

The discussion extends to the need for a shift in how society views and utilizes the internet. Task mentions the potential of Web 3.0 to centralize the internet's role and drive innovation. He draws parallels between the lack of substantial progress in sectors like housing, transportation, and education with the need to incorporate technological advancements effectively. Task brings up the role of cryptocurrency and blockchain in potentially breaking the economic stagnation and fostering innovation.

The conversation moves to specific technological advancements, such as autonomous vehicles and biotechnology, as potential drivers of economic growth. Task mentions the need to focus on disruptive technologies and moonshot projects to propel society forward. He emphasizes the importance of challenging regulatory burdens and corporate monopolies to facilitate technological progress and innovation. Task outlines the potential of decentralized technologies like DAOs to push automation and technological development in stagnant sectors like education, healthcare, and construction.

In conclusion, Task calls for substantial investments in transformative technologies to elevate productivity levels and drive exponential growth. He highlights the importance of directing funds towards revolutionary solutions rather than maintaining the status quo. Task leaves viewers with a hopeful outlook for the future of technology and its potential to reshape various industries and propel economic growth.