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Business

Capturing the Value of Technology—in Economic Terms

When you look at economic statistics like G.D.P. and productivity, what gets overlooked? According to a New York Times column by Eduardo Porter, these key measures fail to capture the value people get from digital technologies. But leading academics from the University of Chicago, Stanford, M.I.T., and the University of Michigan are developing metrics to assess the overall value of technology on our lives, trying to put numbers around key pieces of the puzzle, like the value of the Internet and the value of free online services.   More