“When people think of a future period, they intuitively assume that the current rate of progress will continue for future periods. However, careful consideration of the pace of technology shows that the rate of progress is not constant, but it is human nature to adapt to the changing pace, so the intuitive view is that the pace will continue at the current rate. Even for those of us who have been around long enough to experience how the pace increases over time, our unexamined intuition nonetheless provides the impression that progress changes at the rate that we have experienced recently. From the mathematician’s perspective, a primary reason for this is that an exponential curve approximates a straight line when viewed for a brief duration. So even though the rate of progress in the very recent past (e.g., this past year) is far greater than it was ten years ago (let alone a hundred or a thousand years ago), our memories are nonetheless dominated by our very recent experience.”
– 
The Law of Accelerating Returns
The Smarter Planet tumblelog is an outgrowth of IBM’s strategic initiative to help a world of smart systems emerge.
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“When people think of a future period, they intuitively assume that the current rate of progress will continue for future periods. However, careful consideration of the pace of technology shows that the rate of progress is not constant, but it is human nature to adapt to the changing pace, so the intuitive view is that the pace will continue at the current rate. Even for those of us who have been around long enough to experience how the pace increases over time, our unexamined intuition nonetheless provides the impression that progress changes at the rate that we have experienced recently. From the mathematician’s perspective, a primary reason for this is that an exponential curve approximates a straight line when viewed for a brief duration. So even though the rate of progress in the very recent past (e.g., this past year) is far greater than it was ten years ago (let alone a hundred or a thousand years ago), our memories are nonetheless dominated by our very recent experience.”
– The Law of Accelerating Returns
The Smarter Planet tumblelog is an outgrowth of IBM’s strategic initiative to help a world of smart systems emerge.