One version of the phase change model that I think is worth highlighting: S-curve growth.
Basically, the set of transformative innovations is finite, and we discovered most of them over the past 200 years. Hence, the Industrial Revolution was a period of fast technological growth, but that growth will end as we run out of innovations.The hockey-stick graph will level out and become an S-curve, as g→0.
One version of the phase change model that I think is worth highlighting: S-curve growth.
Basically, the set of transformative innovations is finite, and we discovered most of them over the past 200 years. Hence, the Industrial Revolution was a period of fast technological growth, but that growth will end as we run out of innovations.The hockey-stick graph will level out and become an S-curve, as g→0.