Technological Optimism and Its Decline

Sixty years ago, Americans could easily envision a not-too-distant future of vacations on Mars, miracle cures, clean and infinite energy, and, of course, flying cars. But the dream collapsed, we entered an era of technological and economic stagnation, and pop culture became fixated on catastrophizing the outcomes of scientific innovations. AEI’s James Pethokoukis traces the origins of this “Great Downshift” in optimism and progress – largely due to 1970s regulatory decisions and changes in risk tolerance – and he gives us a roadmap for returning to the era of a risk-taking, future-oriented society.

James Pethokoukis is the author of “The Conservative Futurist: How to Create the Sci-Fi World We Were Promised.” He is a senior fellow and the DeWitt Wallace Chair at the American Enterprise Institute (AEI), where he analyzes US economic policy, writes and edits the AEIdeas blog, and hosts AEI’s Political Economy podcast. He is also a contributor to CNBC and writes the Faster, Please! newsletter on Substack. Follow him on X at @JimPethokoukis.