Saw this in today's The New York Times:
Your smartphone allows you to get almost instantaneous answers to the most obscure questions. It also allows you to waste hours scrolling through Facebook or looking for the latest deals on Amazon.
More powerful computing systems can predict the weather better than any meteorologist or beat human champions in complex board games like chess.
But for several years, economists have asked why all that technical wizardry seems to be having so little impact on the economy. The issue surfaced again recently, when the government reported disappointingly slow growth and continuing stagnation in productivity. The rate of productivity growth from 2011 to 2015 was the slowest since the five-year period ending in 1982.
You can read the rest @
http://www.nytimes.com/2016/06/06/business/why-the-economic-payoff-from-technology-is-so-elusive.html
There has been a payoff, for the few. And they really don't give a damn that the rest of our economy is in a shambles. Here in Austin they showboat around in their big Audis, BMWs, and Porsches without a care in the world, sending the formerly employed out to buy and deliver their groceries to them.
The real "payoff" will come after The Singularity occurs, when the robots and AIs kill off most of us. Then the tech types will truly flourish, until the robots kill them too.
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