Estimating Technical Progress

Overestimating the potential upside of every new sign of tech progress is as common as downplaying the downsides. It's easy to let our imaginations run wild with how any new development is going to change everything practically overnight. The unforeseen technical roadblocks that inevitably spring up are only one reason for this consistent miscalculation. Human nature is simply out of sync with the nature of technological development. We see progress as linear, a straight line of improvement. ...