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George Mason University economics professor Tyler Cowen argues that the low-hanging fruit of Internet-based progress are now behind us and development will proceed much slower.
George Mason University economics professor Tyler Cowen argues that the low-hanging fruit of Internet-based progress are now behind us and development will proceed much slower.
(Stephen Gosling/)

SCOTT BARLOW

Tech sector succumbs to its own Great Stagnation

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No industry creates corporate behemoths and then destroys them as spectacularly as technology. It’s not just Blackberry Ltd. The merger deal between Applied Materials and Tokyo Electron announced on Tuesday is another sign the sector is consolidating and dreams of glory are waning.