I wonder if the TFP takes into account digital production or intellectual property? It seems based on GDP but do these measurements reasonably account for how much of our effort is in digital spaces? The referenced decrease coincides with the advent of computing, which has made everyone more productive, not less.
Great article.
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I wonder if the TFP takes into account digital production or intellectual property? It seems based on GDP but do these measurements reasonably account for how much of our effort is in digital spaces? The referenced decrease coincides with the advent of computing, which has made everyone more productive, not less. Great article.