“G.D.P. is not a measure of how much value is produced for consumers,” said Erik Brynjolfsson of the Massachusetts Institute of Technology. “Everybody should recognize that G.D.P. is not a welfare metric.”
Brynjolfsson is co-author of "Race Against the Machine" -- the best economics book of 2011, maybe of the last decade. Well, the first half of it is, the second half is a tragedy of bad economics indoctrination. The quote is pulled from a NYT acticle: http://www.nytimes.com/2013/05/01/business/statistics-miss-the-benefits-of-technology.html?emc=tnt&tntemail1=y Gene _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
