Much concern is being expressed these days about technological unemployment driven by robotics, artificial intelligence, etc. But labor productivity numbers have been more in the direction of stagnation than in the direction of a sharp break upwards…see for example this BLS analysis. Note especially Chart 5, which compares productivity growth in three periods: 1947-2007, 2001-2007, and 2009-2016.
See also this piece, which looks at total factor productivity across continents.
So, what is going on here? Why have the remarkable innovations and heavy corporate and government investments in technology not had more of a positive effect on productivity? I have my own ideas, but am curious about what others think.