When Gordon Moore first projected the growth of “components per integrated function”, he put the doubling period at just about one year. This leads to expectations that this growth can be matched in other sectors of the economy… a category error based on a misunderstanding of fundamental biophysical realities. Modern economies depend on an enormous range of inputs whose yields, performances and capabilities have been constantly improving; but only at rates an order of magnitude lower than the 30 per cent growth dictated by Moore's law.
(For those who haven't read it, Aaron Bastani's Fully Automated Luxury Communism pretty much depends on the idea that we can get exponential growth Moore's Law style across a bunch of sectors in order to achieve post-work, post-scarcity society before the planet implodes.)