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Social and Physical Theories of Technological Stagnation
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Among those who believe that technological change has stagnated, there are two broad categories. One social/institutional theory of stagnation, often associated with Peter Thiel, claims that the world has entered a period of technological stagnation due to avoidable social and institutional factors. Thiel and others in this camp argue that societies have chosen safety, regulation, and risk avoidance over the potential rewards of groundbreaking innovations. These critics suggest that the current technological landscape—dominated by software and digital technology—lacks the world-changing impact of past advancements such as nuclear energy or space exploration.