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" Since 1800, technological advance has been associated with economic growth. The new stuff being built saved labor input, which was then put into the construction of other things. However, the most recent technological advances may not be growth-inducing. As Samuelson puts it, "Gordon sees the Internet, smartphones and tablets as tilted toward entertainment, not labor-saving."" Professor Edward Castronova, who once wrote a book about the exodus to virtual worlds, sees some more evidence of an exodus recession.  He's not just talking about virtual worlds however, but also about your average digital stuff such as tablets and smartphones. It makes us want less 'real' things and so it makes it harder for the economy to grow. One might say, let's measure growth in a different way, taking into account this digital shift. But then again, our social security for instance depends on the economy and the money which is actually earned there.  So will we all hide into virtual worlds to forget the misery of the recession-ridden 'real world'? Or is this speculation very wrong, as the digital evolution is now affecting the 'world of the atoms' in a radical way (think 3D printers, hardware and bio-hacking). 

"We've noted on more than one occasion that economists may be missing a trick when it comes to how technology is changing the global economy. More so, that developments like 3D printing, could even pose a black-swan risk for Asia in their own right."

Yesterday the Washington Post had a great piece in the business section entitled  "Economists offer more pessimistic view on manufacturing in upcoming report."

Two economists offer opposite explanations about why job growth in the United States and other developed economies remains extremely weak.

"Britain plans to make it easier for technology firms to list their shares in London, the government said on Thursday, in an attempt to stem the flow of high-growth companies heading across the Atlantic in search of capital." Interesting. Countries in a competition to keep their tech wizards at home. But how important are stock markets for innovation? And nation-states? Don't think too fast stocks and nation-states are something of the past... 

n a forceful, hard-hitting policy brief, Executive Director Ann Mettler and Senior Fellow Anthony Williams look at the deep-seated changes afoot in our economy.