Information technology has advanced rapidly in the past two or three decades, and an equivalent rapid gain in economy-wide productivity has been anticipated. Productivity statistics, however, do not support this expectation. Although productivity growth has risen since the slowdown witnessed in the 1970s, it can hardly be described as phenomenal. The author discusses some of the current explanations for this apparent disparity and suggests that, as the workforce catches up to the technology level and exploits its full potential, productivity growth will increase.