Economy

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Why We Need New Measures of the U.S. Economy

The Information Age has revolutionized how we shop, travel and entertain ourselves—and yet we know little about how digitization has impacted the economy. That’s because the main gauge of economic growth, Gross Domestic Product, doesn’t capture much of the value created by “information goods.”

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Where Digitization Is Failing to Deliver

It has become a truism that the pace of work is faster than ever, as digital technologies speed up communication and operational processes in a story of unending progress. But increased speed has not translated into increased rates of productivity growth. Since 2004, growth rates have slowed not just in the US but across the world. Chad Syverson, J. Baum Harris Professor of Economics at the University of Chicago’s Booth School of Business, explains what the implications are, and why the benefits of new technologies are not straightforward.

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Expert Opinions on the Economy

  • Blog

Harvard’s Martin Feldstein and MIT’s Simon Johnson offer insights on the economy and the banking system.

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