It could be that the nature of technological change isn’t causing the slowdown but a shift in values. It could be that in an industrial economy people develop a materialist mind-set and believe that improving their income is the same thing as improving their quality of life. But in an affluent information-driven world, people embrace the postmaterialist mind-set. They realize they can improve their quality of life without actually producing more wealth.

as more value is created virtually, the demand for zero-margin productivity workers will fall further, as will raw resource consumption. GDP needs to be amended to account for online value creation.

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