Mismeasuring UK GDP | FT Alphaville


 

One obvious answer is that the GDP calculation has become inaccurate. It presents the wrong impression of what’s really going because it fails to capture a whole bunch of alternative non monetary inputs.

For one, real adjustments in standard of living aren’t always captured. Neither is the “added value” delivered from free inputs which are not monetised. Everything from time spent surfing on Facebook, to the beneficial effects of the collaborative economy. Other things hard to quantify: the productivity burst from smartphones.

Mismeasuring UK GDP | FT Alphaville

Advertisements
This entry was posted in ft.com/alphaville. Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s