Over at Bloomberg View, smart young whippersnapper Noah Smith weighs in on the relationship between measured GDP at factor cost and societal well-being–including consumer surplus–in the information age: Noah Smith: The Internet’s Hidden Wealth: “The stagnationists… claim to have the numbers on their side… …People spend a relatively small fraction of their income on online … Continue reading The Past Two Decades: The Coming of the Information Economy Looks to Have Doubled Our True Rate of Economic Growth