Past technologies took decades to pay off

Trailing 10-year annualised growth of US labour productivity (%/yr), by years since the general-purpose technology arrived (1890 for electrification, 1970 for ICT).

Each line shows the trailing 10-year annualised growth rate of US labour productivity, anchored on the conventional arrival year of the general-purpose technology. Whole-economy labour productivity, not sector-specific.
Chart: Centre for British ProgressSource: Bergeaud, Cette and Lecat, Long-Term Productivity Database v2.7Get the dataCreated with Datawrapper