Are we currently in a “great stagnation”? The growth rate of U.S. total factor productivity is slowing down, and we still don’t have the flying cars we were promised. But stagnation in technological innovation is notoriously hard to measure. Some of the dreams of science fiction were unrealistic, and innovative leaps have occurred in unexpected areas such as broadband satellite internet. Some stagnation does seem to be occurring, but it could be combated by lowering government restrictions on innovation and encouraging a culture of techno-optimism.
