Can technology keep pace with the times?

Evolutionary biologists have argued a system of growth known as "punctuated equilibrium" has been the pattern of human evolution: new species and macro-evolutionary changes happening in swift, steep inclines, followed by a relatively calm period devoid of macro changes, followed by another swift, punctuated change, and then another relatively calm period.  There also comes a time when biological evolution tapers off as cultural evolution takes off (we can now adapt to our environments using clothing, housing, and the like rather than physically change).  Looking at the cultural progression of humankind, however, punctuated equilibrium can be noticed as well: our technological advances have been made in bursts - the Paleolithic Era, the Neolithic Era, and the Iron Age, the Renaissance, the Industrial Revolution, and the Internet Age defining the major technological advances of mankind.

It is also true that technological advances have been accelerating at an astounding rate - referred to as the "law of accelerating returns".  The Paleolithic Era lasted over one million years.  The Neolithic Era lasted less than 7,000.  The Classical Age - rife with Greek philosophy, Egyptian building accomplishments, Chinese gunpowder, and the earliest uses of wind and water energy - lasted less than 1,000 years.  The Middle Ages stayed for another 1,000 while the Renaissance gave this world many of the historical structures and works of art in less than 300.  A brief period of global expansion and imperialism populated the planet, leading to multinational trade, building to the eventual Industrial Revolution - a 150 year period of migration, expansion, growth of urban areas, and mass production.  one hundred years later, the IT Revolution has grown, burst, and regrown in less than 30 years.

It took mankind 50 years to go from the first powered flight to launching a man-made unmanned satellite into orbit, yet less than 17 years after that we landed on the moon.

Alexander Graham Bell patented the telephone in 1876 and Zach Morris was walking around the halls of "Saved By The Bell" with a "modern" cell phone in the early 1990's - 120 years.  By the mid-2000's, internet had been added to a completely different mobile phone - less than 20 years.  

My first flashdrive less than 8 years ago held an incredible 512 megabytes.  Three years ago I picked up a 4GB drive for less than a dinner out.  And since then I've seen 1 terabyte external hard drives for under $100.  That's one million million bytes - more information than many people will ever save to a computer in a lifetime.

I recently read that if automotive technology had advanced at the same rate as computing technology, cars would drive somewhere around 6 times the speed of sound, make 1,000 miles to the gallon, and cost consumers about a dollar to purchase...

Now, the reason I bring this up is because I wonder how far technology can go.  How far can we sustain growth?  The coming 20-30 years will bring about greater technological advances, greater population growth, and greater cultural shifts than the world has ever seen.  By 2050, the world population will grow to over 9 billion people (by 1800, that number was cresting one billion).  Some 60% of people will be living in cities, and the developing nations of today will be outgrowing (both economically and in population) the current developed world. 

So what will tomorrow look like?  And how far will mankind be able to grow, spread, and develop before we hit the ceiling?  Business has the minimum efficient scale - the point at which greater output doesn't lead to additional cost reductions per unit.  The point where the system levels out and growth is stagnant.  At what point will the current system fail to meet our needs (as stone tools, bronze weapons, indentured servants, and rotary phones have already) and a new system becomes necessary?

When will the bubble burst?  After all, empires collapse, they don't just fade away...