Activity

But the really basic problem with GDP is that by not making value judgements, we confuse rents with profits. If we don’t know the difference between value creation and value extraction activities—the kind that are charging prices or earning fees, and hence are included in GDP—we risk passing off an…

But the really basic problem with GDP is that by not making value judgements, we confuse rents with profits. If we don’t know the difference between value creation and value extraction activities—the kind that are charging prices or earning fees, and hence are included in GDP—we risk passing off an…

[...] Innovation, she argues, is a collective process. And as CEOs skim billions off of share buybacks, the people and institutions who help feed their profit margins—from blue-collar workers to public-sector researchers—may not be getting the credit and cash they deserve. Making a fairer and more …