That's simply not true. The reason that software is eating the world is that the rate on investment return is so much higher. Every time I read a publication from Phil Baran's group I have to pause several times to think it through, it's very deep, very subtle. Website is here, btw: http://openflask.blogspot.com/

It's actually worrying that computing has overtaken science and engineering. Back then, Arnold Beckman made a fortune in scientific instruments and enabled the world to do better science. Nowadays, Google and Facebook sit on huge corpora of natural language texts, and the only thing they do is build better AI for better targeting of ads.