Phys .org: We urgently need new tools to measure economic recovery after coronavirus. “Economies across the world are on course to face the worst fall in GDP figures since 2008. In the UK, GDP fell by 10.4% in the first three months of 2020, and a whopping 20.4% in the month of April, the largest […]
The European Sting: An economist explains how to value the internet. “It is one the most commonly used measures of economic activity: gross domestic product (GDP), defined as the total market value of all final goods and services produced within a country in a given period. But GDP misses out on huge chunks of value […]
MIT News: Facebook is free, but should it count toward GDP anyway? . “For several decades, gross domestic product (GDP), a sum of the value of purchased goods, has been a ubiquitous yardstick of economic activity. More recently, some observers have suggested that GDP falls short because it doesn’t include the value of free online […]