I should add in passing that certain society-level efficiency gains (e.g. fewer hours wasted in commuting, less traffic congestion, less pollution) may never show in productivity statistics at the firm level. •  Swift technological progress can have disruptive effects on market dynamics. New leaders emerge and incumbent firms are often displaced in a relentless process of creative destruction.
•  Market leaders pave the way for progress by pushing the frontier. There are two ways for society as a whole to reap the full productivity benefits of innovation: diffusion from pioneers to followers, and resource reallocation from laggards to front-runners. Both are likely to be necessary. Regulation and public policies can make a lot of difference on both counts.