GDP Is a Wildly Flawed Measure for the Digital Age

Harvard Business

It struggles to account for today’s intangible assets—services, insights, and networks. As the market, including customers, employees, and investors, shifts the mix of what is done and what is consumed, this most important and commonly used economic indicator, along with Generally Accepted Accounting Principles (GAAP), tells a concerning story. HBR STAFF. Germany, Switzerland, and Japan are now in negative interest rate territory. So are Denmark and Sweden.

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On Creative Accounting: Two Creativity Myths

Harvard Business Review

Wall Street's " financial innovations " of recent years seem to have given creativity a bad name. As long as the new ideas cohere with ethical standards, and generally accepted accounting principles ( GAAP ), they can yield immense benefits. The Balanced Scorecard's primary form of novelty is that it takes into account the intangible assets that are so crucial for information-age companies. Tags: Creativity Ethics Innovation GAAP

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