John Kay makes an argument that I've seen elsewhere, but he does it exceptionally well:
But the technological advances of the past decade seem to have increased the efficiency of households, rather than the efficiency of businesses, to an unusual extent. An ereader in the pocket replaces a roomful of books, and all the world’s music is streamed to my computer. We look at aggregate statistics and worry about the slowdown in growth and productivity. But the evidence of our eyes seems to tell a different story.