The IT revolution of the 1990s led to a surge in productivity that sped up the US economy for several years. Economists expect AI would deliver higher productivity, which is key to raising growth rates in the long run. A trader blows a chewing gum bubble as he works on the floor of the New York Stock Exchange on Thursday. Take Block, the fintech firm run by Twitter founder Jack Dorsey, said on Feb. 26 that it was slashing almost half its staff in a bet on AI productivity. It is all part of what the economist Joseph Schumpeter called the “creative destruction” which leads to progress.

Source: Taipei Times March 07, 2026 17:13 UTC