The death of Moore’s law and the information economy has been greatly exaggerated

For the past five decades, Moore’s law has been the key tailwind propelling the United States and global economies. Through recessions and political turmoil, Moore’s law — the rough doubling of computer cost-performance every two years — hummed along in the background, with amazing regularity, giving us the PC, the internet, and the smartphone and enabling the poverty-crushing phenomenon of globalization.