More evidence for a Great Stagnation, Scott Sumner | EconLog | Library of Economics and Liberty
For once, it is worth reading the comments:
It's just that the value ended up mostly going to consumer surplus instead of producer surplus. This doesn't get picked up by our standard measures of economic activity,
We are seeing a transition to an economy which is no longer measured well with traditional methods. Just about everything which is improving is getting damn near free.
For once, it is worth reading the comments:
It's just that the value ended up mostly going to consumer surplus instead of producer surplus. This doesn't get picked up by our standard measures of economic activity,
We are seeing a transition to an economy which is no longer measured well with traditional methods. Just about everything which is improving is getting damn near free.
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