It was a prediction that ultimately proved false. Besides, nowadays we are seeing more actual gain by increasing efficiency rather than power.
However in some regards you are right. The technological singularity is very likely to happen some time before 2050. It will be very interesting to see what happens here. At that point, virtually any technology you can imagine would quickly become as ubiquitous as paper, there would be no way to prevent its distribution. I think the whole world would be open source.
It is also scary to think what will happen when large portions of humans are given a free ticket to ride with virtually no obligations and nearly unlimited luxury... Will it mellow people out, or will they get bored and go nuts and start devastating wars?
Freedom in our lifetime! - fiol.us