Do we spend less on tech?

Stephen Baker

Our colleague Mike Mandel posts stats showing that tech spending in the U.S. is at the lowest level (as a percentage of GDP) in 11 years. Interesting points in comments. One theme is that we get a whole lot more tech, whether its computing power, memory or zippy software, for every dollar we spend. But the bigger point, I think, is that it's getting harder and harder to measure tech spending, because information technology is nearly ubiquitous. An automobile, with its scores of microprocessors, emerges from a robotized factory as a rolling computational lab. But how much of the money we spend on cars counts as tech spending? I have no idea.

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