Cowen has an idea that technology will reduce the demand for human labor. So far, this hasn't happened. Humans are merely moving into more creative fields, leaving the repetitive activities to the machines. In other words, their productivity is increasing.

This stagnation, if it comes, won't be a consequence of 'everything possible having been invented', but rather external political factors. In fact, the modern state was given a great boost by the advance in technology, there is only a danger if it outgrows its support systems.