All the discussion of investment and economics can be better informed by perusing the economic data in Rise and Fall of American Growth. Robert Gordon's empirical finding is that American productivity compounded astonishingly from 1870-1970, but has been stuck at a very low growth rate since then.

It's hard to square with the computer revolution, but my take post-70s is "net creation minus creative destruction" was large but spread out over more decades. Whereas technologies like: electrification, autos, mass production, telephone, refrigeration, fertilizers, pharmaceuticals, these things produced incomparable growth over a century.

So if you were born in the 70s America, your experience of taxes, inflation, prosperity and which policies work, all that can feel heavier than what folks experienced in the prior century. Of course that's in the long run (ie a generation).

I question whether AI tools have great net positive creation minus destruction.