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by yorwba
1 hour ago
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The internet has certainly changed the composition of the economy a lot, so that a lot of services that used to be in-person are now available online. But GDP growth is about the difference in value production over time. Especially digital services that can be provided at high volume, because they're so cheap, don't add up to as much value when you multiply it out, and then you have to subtract the past value of the replaced services, so the GDP contribution is less than you'd naïvely expect from the growth in units sold. |
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