RIWI Insight of the Week
The widespread use of the Internet has fundamentally altered the global economy, yet most economic measures haven’t caught up with this dramatic change. This concern isn’t only academic: it means we risk failing to anticipate or recognize significant economic change when or even after it takes place. This is central to understanding the trajectory of any industry, any economy, government tax revenues, or work and leisure.
To address this, we need to complement our existing measures with rigorous new data approaches that capture the digital economy, and we need to do so not just in North America, but in China and other emerging markets. These countries don’t just follow trends in the developed world, but are key players in the adoption of digital economy practices.
To read about the three ways in which the global economy has changed that are not well reflected in our conventional economic measures and analyses, click here.