Tinkering with the hype-like hyping of exponential -everything- versus the Been There Done That ‘history’ prophets (?), trying to integrate their ideas:
Do we have enough history of macro- or micro-‘economic’ data to be able to establish whether in the really long run, the things that count (which, indeed, are not countable) are on a sinus wave pattern OR on an exponential growth pattern ..?
Contra which I’d pose another hypothesis: Both at the same time. And even another: None.
A lot of pundits of course make the mistake (I think it is) of believing the graphs that have shown a very, very slowly increasing (though already exponential) curve that, These Days or Tomorrow, suddenly shoots up extremely. As if the exponens has suddenly grown immensely. This has no proof and wouldn’t need one even to make the point. All ‘smooth’ exponential curves (i.e., with constant exponens) have these tipping points where from Quasi-Linear Under The Radar they suddenly shoot through the roof – and, as often forgotten but giving rise to the up-dent fallacy, they already have the (log) property where zooming in gives the same picture all over again; almost ‘fractalian’.
Other pundits make the mistake (I think it is) of assuming that there’s no news under the sun, ever. All is cyclical, all is under the Nietszchian spell of eternal return. All developments one can graph, have sinus wave functions through time (be it that it might take ages, aeons for the pattern to neat out). Which may be true, in part, when ‘inflation’ in all sorts of (qualitative …!?) areas is applied. But which also may not be true as there may (unfalsified hypothesis) be human(ity) Progress after all.
But then, what about sinus waves on top of exponential long-term developments ..? That would give almost-erratic, almost-earthquakelike-unsettling graph trend breaks, either up or down. (Next to more mundane settling-downs, obfuscating things.)
Or, exponential blips on top of longest-term sinus waves, of course. Also not looking too regular…
Or, there is nothing to extrapolate as all developments, once viewed primarily linearly, now also (sic) exponentially, are accidental short-term fits with the Very Long Term being random. Even Moore’s Law is an accident: Given (the approach of) endless numbers of hypotheses, some will be true, by chance.
We just don’t know until we’ve checked. Which may take eternity.
Just DON’T assume your expo-upkick is news, or is, per se.
And, maybe the Singularity will change things as Everything will be mental, abstract ideas instead of necessarily being possibly physics-bound in some way or another.