[smsm42]

I admire your effort in finding something that salvages that obviously wildly misguided prediction by Krugman. But really: if any measure says Internet had no large economical impact on our lives, it's just a bad measure.

And yes, GDP is suffering from some problems. There's huge informational resources that can not be valued the way GDP is calculated. There are many other criticisms of it[1]. OTOH, is somebody gets money for digging a trench in the morning and filling it up at the evening, GDP increases, even though nothing useful were done, the money was just wasted. Don't get me wrong, GDP is a useful indicator, but it doesn't show everything.

[1] https://en.wikipedia.org/wiki/Gross_domestic_product#Limitat...

[hyperpape]

Your example of the trench is a textbook example of the broken windows fallacy. Digging a trench and filling it up may increase GDP when unemployment is low. It will reduce it when you're near full employment.