ANALYSIS: How the Slowdown in Technology Might Affect the Economy
Forget the laws of supply and demand. Stop worrying about the law of diminishing returns, or any of the other iron rules you might find in the economic textbooks. In many ways, by far the most important law for the economy over the last 50 years has been a technological one – Moore’s Law, the famous prediction by one of the founders of Intel that computing power would double roughly every two years.
It has held true for a remarkably long time; the incredible power of cheap micro-chips has underpinned the internet revolution and just about every other form of technology.
There is a problem, however. According to the people running Intel now, it may have come to an end. Chips are already so powerful it just isn’t going to be possible to keep doubling their speed, at least not nearly as quickly as in the past.
Read the article “ANALYSIS: How the Slowdown in Technology Might Affect the Economy” on telegraph.co.uk.
