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Nordhaus, “Are We Approaching an Economic Singularity? Information Technology and the Future of Economic Growth” (2015-09) articulates G04. Rapid improvement in information technology raises aggregate growth only if information substitutes well for other inputs in production, or for other goods in consumption. The inelastic case of the same model: growth converges to that of the slowest input. Copy claim link
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Date 2015-09 · publication Wording attested 2016-08-09. Capture of the Cowles PDF. Role Earliest located Register (kind of text) Nonfiction Tier Tier 1. Tier 1 (unchanged). Economist (Yale) in a core economics series: Cowles Foundation Discussion Paper and NBER Working Paper; journal version in American Economic Journal: Macroeconomics. Conditions (G04-a) Elasticity of substitution between information and other inputs or goods below one. (G04-b) Elasticity of substitution between information capital and labour below one. Scope and limits (Second passage) The supply-side case of the same model (section VII), with information capital and labour as poor substitutes.
The evidence 02 primary source Supports the claim
Are We Approaching an Economic Singularity? Information Technology and the Future of Economic Growth ↗ Cowles Foundation Discussion Paper No. 2021, Yale University · 2015-09
Archived copy, captured 2016-08-09: Are We Approaching an Economic Singularity? Information Technology and the Future of Economic Growth ↗
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Source excerpt “rapid growth in the productivity of computers or information technology such as shown in Figure 1 has no necessary implication for aggregate economic growth. The reason is that the economy does not run on bits alone, either on the demand side or the supply side.” Location in source Section IV "Singularity from the demand and the supply side", first paragraph
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Source details and check notes Authors William D. Nordhaus Version Wayback capture of the Cowles Foundation PDF (cowles.yale.edu/.../d2021.pdf); compared with a capture of NBER Working Paper 21547. Capture retrieved 2026-10-08 (SHA-256 d9348fe608486784675d6f95dfb78367801c0ca33217b500a0d31bee1dea5f97). Versions: Cowles Foundation Discussion Paper No. 2021 (2015-09): checked; NBER Working Paper 21547 (2015-09): compared; American Economic Journal: Macroeconomics 13(1) (2021-01): not compared. Published version: Nordhaus, W. D. (2021). Are we approaching an economic singularity? Information technology and the future of economic growth. American Economic Journal: Macroeconomics, 13(1), 299–332. https://doi.org/10.1257/mac.20170105 Working paper: Nordhaus, W. D. (2015). Cowles Foundation Discussion Paper No. 2021; NBER Working Paper No. 21547. https://doi.org/10.3386/w21547 Canonical address Open the canonical source ↗ Accessed 2026-10-08 Language English (en) Archive copy Open archived copy, captured 2016-08-09: Are We Approaching an Economic Singularity? Information Technology and the Future of Economic Growth ↗ . An archive copy shows only what the archive retrieved on 2016-08-09. It does not prove what the page said earlier, and it can differ from the copy checked on 2026-10-08.Attribution William D. Nordhaus, “Are We Approaching an Economic Singularity? Information Technology and the Future of Economic Growth”, Cowles Foundation Discussion Paper No. 2021, Yale University, 2015-09. Reuse No open redistribution licence asserted. Bibliographic metadata, editorial paraphrases and short attributed quotations (at most 50 words each). Recheck terms before wider redistribution. Check notes Candidate pack passage G04-a (research/economics-growth). The quotation (45 words) matched the checked expression (nordhaus-cowles) in the pack's verification. Re-checked at admission on 2026-10-14 against a copy retrieved that day. primary source Supports the claim
Are We Approaching an Economic Singularity? Information Technology and the Future of Economic Growth ↗ Cowles Foundation Discussion Paper No. 2021, Yale University · 2015-09
Archived copy, captured 2016-08-09: Are We Approaching an Economic Singularity? Information Technology and the Future of Economic Growth ↗
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Source excerpt “If the elasticity of substitution is less than one, then information capital's share in production declines over time, and the growth in aggregate productivity tends toward the growth of the relatively fixed factor, labor.” Location in source Section VII "Supply-side Singularity", paragraph beginning "The natural produced input to consider"
Machine-checked · 2026-10-14
Source details and check notes Authors William D. Nordhaus Version Wayback capture of the Cowles Foundation PDF (cowles.yale.edu/.../d2021.pdf); compared with a capture of NBER Working Paper 21547. Capture retrieved 2026-10-08 (SHA-256 d9348fe608486784675d6f95dfb78367801c0ca33217b500a0d31bee1dea5f97). Versions: Cowles Foundation Discussion Paper No. 2021 (2015-09): checked; NBER Working Paper 21547 (2015-09): compared; American Economic Journal: Macroeconomics 13(1) (2021-01): not compared. Published version: Nordhaus, W. D. (2021). Are we approaching an economic singularity? Information technology and the future of economic growth. American Economic Journal: Macroeconomics, 13(1), 299–332. https://doi.org/10.1257/mac.20170105 Working paper: Nordhaus, W. D. (2015). Cowles Foundation Discussion Paper No. 2021; NBER Working Paper No. 21547. https://doi.org/10.3386/w21547 Canonical address Open the canonical source ↗ Accessed 2026-10-08 Language English (en) Archive copy Open archived copy, captured 2016-08-09: Are We Approaching an Economic Singularity? Information Technology and the Future of Economic Growth ↗ . An archive copy shows only what the archive retrieved on 2016-08-09. It does not prove what the page said earlier, and it can differ from the copy checked on 2026-10-08.Attribution William D. Nordhaus, “Are We Approaching an Economic Singularity? Information Technology and the Future of Economic Growth”, Cowles Foundation Discussion Paper No. 2021, Yale University, 2015-09. Reuse No open redistribution licence asserted. Bibliographic metadata, editorial paraphrases and short attributed quotations (at most 50 words each). Recheck terms before wider redistribution. Check notes Candidate pack passage G04-b (research/economics-growth). The quotation (34 words) matched the checked expression (nordhaus-cowles) in the pack's verification. Re-checked at admission on 2026-10-14 against a copy retrieved that day. Status and meaning Editorial status. Not reviewed by an editor . An exploratory record that no editor has accepted. This status does not say whether a person has read any linked passage. Each evidence record above shows how it was checked.
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Date. Cover "September 2015"; title page "September 1, 2015". NBER Working Paper 21547 carries "September 2015".
Record ID ec-g04-nordhaus-2015-economic-singularity-a