GDP Is a Wildly Flawed Measure for the Digital Age
JULY 28, 2016
New workers embarking on their careers are finding that their education is incomplete in many areas essential to our technology-driven lives today. While all of these are contributing factors, the major factor, in our view, is the deflationary effect of technology, which our measurement systems fail to account for. As the economy has evolved from one age to another (from industrial to services to information to network), our basic measurement systems have not kept pace.