That depends on the rate of investment in the equipment that embodies the new technology, the rate at which the labor force is able to acquire needed skills, and, of course, on the fundamental potential of the technology itself. History demonstrates that the boost to productivity growth from a particular technological advance is not unlimited and eventually will be fully exploited.
Our national economy has been strained by this housing slowdown and other forces, causing policymakers and others to debate what response is necessary. Also, during this election season, we are reminded of the importance of economic issues.