I find the opening graph to undermine the central thesis a bit: the dot-com bubble burst in 2002, but is barely reflected on the graph; the growth levels off in

I find the opening graph to undermine the central thesis a bit: the dot-com bubble burst in 2002, but is barely reflected on the graph; the growth levels off in 2005 or 2006. If the change in productivity was largely software-moderated, I would expect a lager change around the dot-com burst. Meanwhile the large change seems to be the 2007 Subprime mortgage crisis - and presumably the follow-up change in interest rate and investment patterns.