"Then I reject that definition. I don't see how it is even remotely possible that technology can improve so fast that people have to augment themselves to keep up with it. It is not economically possible. The Law of Accelerating Returns is primarily an economic theory."
From Wiki http://en.wikipedia....cal_singularityTechnological singularity
refers to the hypothetical future emergence of greater-than-human intelligence through technological means. Since the capabilities of such an intelligence would be difficult for an unaided human mind to comprehend, the occurrence of a technological singularity is seen as an intellectual event horizon
, beyond which the future becomes difficult to understand or predict.
You can reject the singularity. But, I don't see how you can reject the definition. You clearly need to do a bit of reading.
Surely you know what a singularity means in physics? This is where the term "technological singularity" is drawn from. A singularity is a point in space where all the laws of physics break down. A technological singularity in a civilization is the point where change happens so fast that the normal rules of society no longer apply. That means it is impossible for us to predict what will happen post singularity.
Now, is the LOR (law of accelerating returns) only an economic theory? I'm not sure what you mean here. The LOR means that progress in information technology is increasing exponentially. We are not talking about bacteria multiplying exponentially until they don't. The key words are "information technology" as in processing speed, memory, information transfer, gene sequencing etc. Kurzweil has made his point that eventually almost everything will eventually become a form of information technology. He sites 3-D printing as a primary example. In a post scarcity future where robots or nanobots are making and doing everything for us, normal economic rules don't apply.
Finally, could the singularity happen by 2045 as Kurzweil believes? In addition, how could it happen?
Scenario 1: We create strong AI. Strong AI creates Stronger AI. Recursion....... Resulting in a God like artificial intelligence. This intelligence will help the human race to upgrade its capabilities and we will also become godlike.
Scenario 2: BCI (Brain computer interface). With improvements in GPS (already here) and 3D glasses (coming soon) and AR/VR (augmented reality/virtual reality) the world could change very fast. Overlaying the real world will be a virtual one that we can interact with. We may choose to even implant chips into our bodies to augment our experience. If your not plugged in; you will not be able to keep up with the pace of accelerating change.
Are these scenarios plausible? This is certainly up for debate. However, calling extreme progress in technology, (as some people here have) a "singularity" doesn't make a lick of sense.