Mises Wire
Author:
Alasdair Macleod
Online Publish Date:
Gross Domestic Product-B attempts to capture the added value of things we don’t pay for, such as Facebook, WhatsApp, Google and other digital services free to the user. B stands for benefits; the benefits consumers receive from free and subsidized services. It was devised by Erik Brynjolfsson, a professor at MIT, and is a work-in-progress. He