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According to this article, a recent report by an independent group of science and technology advisers to the White House, says that software advances are driving computer innovation, not hardware.
There are no such laws in software. But the White House advisory report cited research, including a study of progress over a 15-year span on a benchmark production-planning task. Over that time, the speed of completing the calculations improved by a factor of 43 million. Of the total, a factor of roughly 1,000 was attributable to faster processor speeds, according to the research by Martin Grotschel, a German scientist and mathematician. Yet a factor of 43,000 was due to improvements in the efficiency of software algorithms.