Abstract
The dominant narrative that prevails in Western society today is that we live in a time of unprecedented technological progress that is historically unparalleled. We have social media networks, smartphones, the internet, and we are moving towards advanced artificial intelligence.
However, little is said or written about the fact that this is also a narrative successfully challenged by several prominent, mainly American, authors. Those point out that progress over the last 50 years or so has been limited mainly to information technology, while in other areas, such as energy, transport, and construction, we are experiencing stagnation, resulting in the decline of the middle class and worsening life prospects, particularly for young people.
This article is based on these critical perspectives and has two objectives. The first is to introduce a reader to the technological stagnation thesis.
The second is to analyse the causes of this phenomenon and what role law and regulation might play in it. The ambition of this article is not to solve this problem entirely but rather to bring it to the attention of the academic community.
If future discussions will be more about the impact of our actions on the issue of innovation, I would consider the objective of this article to be met. At the same time, I believe that this article may open the door to further research in the field of law, including potential empirical analysis.