High tech ought to be driving our economy forward, but as the linked article highlights, our productivity improvements and job opportunities are not nearly as great as past industrial advances. Why is that? Much of today’s tech industry is “social media” and:
One reason [for a productivity slowdown] may be the nature of “social media,” which is largely a replacement for technology that already exists, or in many cases, is simply a diversion, even a source of time-wasting addiction for many. Having millions of millennials spend endless hours on Facebook is no more valuable than binging on television shows, except that TV actually employs people. …. It’s up 70,000 jobs since 2010, but this is after losing 700,000 jobs in the first decade of the 21st century.
Source: Today’s Tech Oligarchs Are Worse Than the Robber Barons – The Daily Beast
Well, to be fair, social media is the optimal propaganda platform!