ALLEN MURABAYASHI, PHOTOSHELTER BLOG:
"On the Op/Ed pages of The New York Times, Nobel-prize winning economist Paul Krugman described 'The Big Meh' – the productivity paradox whereby the incredible technological development of the Information Age has yielded only modest economic results. Entrepreneur Peter Thiel famously complained, 'We wanted flying cars, instead we got 140 characters.'
"Therein lies the rub. You can only move data so quickly before the economic benefit becomes dubious at best (think high frequency traders). More social networks, more Wikipedia pages, more efficient ride hailing – they are good to a point, but it’s just not the same as building roads, bridges, and flying cars, all of which employ people and make other economic opportunity available.
"On the other hand, the Information Age is really good at cultural transmission."
Read more, here.