That is the title of my latest Bloomberg column. Here is one excerpt:
The larger question is how to know when this great stagnation is ending. Counterintuitively, the answer might be when people are most upset — because that’s generally how most humans react to change, even when it proves beneficial in the longer run. These feelings arise in part from the chaos and disruption brought about by some pretty significant changes.
People, here is the good news and the bad news: Change is upon us. We are entering a new era of crises — in politics and biomedicine, with climate and energy, and not incidentally, about how prudently we spend our time.
The regretful truth is that progress is never going to be easy. The great technological advances of the late 19th and early 20th centuries, remember, were followed by two world wars and the rise of totalitarianism. Innovations such as radio and the automobile improved countless lives but also broadcast Hitler speeches and led to destructive tanks.
I’m not predicting the same catastrophe for today. I’m only saying that when the discontent is palpable, as it is right now in America, keep in mind that true breakthroughs may already be underway.
The examples are in the longer text. Recommended!