The Digital Revolution’s Silent Majority
An abiding mystery of the twenty-first-century economy is tepid productivity growth despite the emergence of cutting-edge technologies with the potential to disrupt entire industries. But there could be a simple explanation: the attention these technologies receive is wildly disproportionate to their scale and scope.
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MILAN – Statistics can hold brutal truths. We are constantly told that innovation is occurring faster than ever, yet the data coming out of the so-called Fourth Industrial Revolution suggest that it is anything but revolutionary. Among advanced economies, productivity growth is the slowest it’s been in 50 years.