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The Innovation Enigma

Around the world, there is enormous enthusiasm for the type of technological innovation symbolized by Silicon Valley. In this view, America’s ingenuity represents its true comparative advantage, which others strive to imitate. But there is a puzzle: it is difficult to detect the benefits of this innovation in GDP statistics.

via Joseph E. Stiglitz argues that the impact of technological change on living standards has become increasingly unclear. – Project Syndicate.

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