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The Value of Free in GDP

June 11, 2017 - 06:17 -- Admin

Did the rise of free information technology improve GDP? It is commonly assumed that it did.

After all, the Internet has changed the way we work, play, and shop. Smartphones and free apps are ubiquitous. Many forms of advertising moved online quite a while ago and support gazillions of “free” services. Free apps changed leisure long ago—just ask any teenager or any parent of a teenager. Shouldn’t that add up to a lot?