Tuesday, March 1, 2011

The Great Stagnation: Snack bar implications

Economist Tyler Cowen of Marginal Revolution recently released a short work of non-fiction called The Great Stagnation. The central thesis is that the 20th century was an unusual time of technological “low-hanging fruit” that greatly improved everyday life with relative ease (automobiles, electricity, etc.). We face a “Great Stagnation” where the relative improvement of life for the average person will be quite modest in comparison. We’re not going to see the revolutionary improvement we’ve become accustomed to.

He may be right.


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