RE: [OPE] one of the great inventions of the 20th century?

Date: Fri Feb 29 2008 - 18:17:38 EST

It is ironic that at a time when we were just discussing some of
the major technological changes of the 20th Century, we are 
made aware of the following:
A bit self-serving, isn't it, for the BEA to claim that GDP is one
of the great "inventions" of the last century?  Any objective
ranking, I think, would have GDP listed _way_ down the list
of significant XXth century "inventions" - if, indeed, it was
listed at all.
> . Schumpeter's story about innovation is a powerful and suggestive metaphor, but empirically it isn't all that sound. Christopher Freeman's 
> research is probably a much better guide.
I think that's a good point, Jurriaan.
 In solidarity, Jerry

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