Jon Low decodes what’s happening at the intersection of business, technology, and public policy.
(...) much of the value being created in this 'new' system - which is actually a generation old now - is not captured by traditional accounting systems, nor in the measures like Gross Domestic Product that governments use to measure how they are doing versus others.
That is a problem because it skews the way we perceive value, which affects employment and compensation and investment and a host of other activities that propel economies forward, or not.
(...) Miscalculations and the misperceptions they feed affect the kinds of jobs for which we educate and train people, misdirect the efforts to which they are assigned and misallocate the resources needed to optimize the outcomes of their efforts.
The shift from a tangible to an intangible economy is acknowledged, but has not been accounted for.