The Second Machine Age: 8 key ideas
The core ideas of The Second Machine Age, each in under a minute, written in our own words. Want the full depth? Get the book.
- IDEA 1 OF 8
Machines now augment minds
Brynjolfsson and McAfee argue that just as the first machine age, the Industrial Revolution, multiplied human muscle power, a second machine age of digital technology is multiplying mental power.
This will transform economies.
- IDEA 2 OF 8
Exponential growth surprises us
The authors explain that computing power has grown exponentially, doubling again and again.
Such growth seems slow at first and then becomes astonishing. Because the pace feels so gradual early on, people underestimate how far it can go.
- IDEA 3 OF 8
Digital goods are nearly free
The authors explain that once something is digitised, it can be copied almost for free.
This changes how value is created. Copies of a song or a program cost almost nothing, so one product can reach millions of people.
- IDEA 4 OF 8
New ideas combine old ones
The authors argue that innovation often comes from recombining existing ideas.
Digital tools make this easier. Having a huge store of past ideas to draw on and mix means new creations come faster than before.
- IDEA 5 OF 8
Technology brings bounty and spread
The authors describe bounty, the growing abundance technology creates, and spread, the growing gaps in income.
Both are happening together. Rising total wealth does not mean that everyone gains in the same way.
- IDEA 6 OF 8
GDP misses digital value
The authors argue that standard economic measures fail to capture the value of free digital goods.
Free maps, search and photos improve people's lives, but they hardly appear in the usual figures. The numbers therefore understate real benefits.
- IDEA 7 OF 8
Race with machines
The authors suggest that people should work with machines rather than compete against them.
Creativity and social skills will matter. Machines are strong at some things and people at others, so the best results come from teams of both.
- IDEA 8 OF 8
Policy must adapt
The authors propose policies such as better education and support for entrepreneurship.
They want gains shared widely. Because technology moves faster than institutions, they argue that rules and skills must be updated to keep pace.
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