"Facebook, Twitter, GPS map services and other apps on your smart phone come at zero cost [and] they won’t show up in GDP, nor in traditional measures of productivity -- even if they improve our lives and make us more productive."
Headline is wrong. https://www.bloomberg.com/news/articles/2020-01-05/give-up-facebook-for-a-month-and-help-economists-fix-gdp?srnd=premium …
Great paper. Broken headline.
"The authors estimate the social network by itself could add as much as 0.11% annually to U.S. gross domestic product if measured by its benefit to users. The paper was just presented Saturday at the meeting of the American Economic Association."
"The paper gets at a broader question facing economists: How much is technology improving our lives?"
"We don't have a really good understanding of why it's been so difficult to get inflation back up," Daly said at the same meeting." https://www.google.com/amp/s/mobile.reuters.com/article/amp/idUSKBN1Z225K …
Wait! Maybe they do!
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