How to measure new economics?


This is first ever I saw review that tried to get answer for the question: “Why GDP does not grow?” Indeed Tech Sector is sparkling, bringing news at daily level but it get very low reflection in GDP measurements because many products are for free or offered by lowest possible price.Just imagine 2014 w/o free information spread like Google or Wiki. Millions of people sale to another hundred millions pieces of information, print shops run 24/7 and produce Yellow Pages – it create new job places, run GDP higher, overall picture looks very optimistic. However what we have today – information is free, retrieved in seconds,available for billions, literally for any citizen of Planet Earth and it somehow indirectly enable for 3d World country to run their wheat&steel economics faster while Western world didn’t get any remarkable benefit from the process. In opposite – GDP is flat, job market shrinks by the most of categories. These are few issue together and I note just two: we live in period of biggest than ever economic transformation when free information access, robotics, sharing will change everything we know about economics. Second – the process in its initial faze and economist still do not trained to measure these processes, products, services and convert them in GDP. First that do it going to get Nobel prize 50 years later 🙂



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