Sure, there’s been inflation since Rockefeller, but there’s no disputing that we’ve decreased the time it takes innovative people to achieve dreams, get rich, and make an impact on the world—and this has largely been due to technology and communication. “A serious assessment of the history of technology shows that technological change is exponential,” writes the futurist and author Ray Kurzweil in his famous essay The Law of Accelerating Returns.
Is wealth in general being created much faster or are the gains just accumulating in smaller circles? Technology might be accelerating inequality much faster than boosting overall productivity.
