intangible-assets
Non-physical assets such as organizational capital that are enhanced by computer technology and contribute to economic performance.
2 chapters across 1 book
The Second Machine Age: Work, Progress, and Prosperity in a Time of Brilliant Technologies (2014)Erik Brynjolfsson and Andrew McAfee
Chapter 7, "Computing Bounty," explores the steady economic growth influenced by technological advancements, particularly information technology (IT), and its impact on productivity. It discusses the historical context of economic growth patterns, the productivity paradox related to IT, and how firms that effectively integrate IT and management practices experience significant productivity gains. The chapter also highlights the outsized role of the computer industry within manufacturing productivity and the broader economic resurgence driven by IT adoption.
Chapter 8 'Beyond GDP' critiques traditional GDP as an insufficient measure of economic welfare and progress, especially in the context of digital and intangible goods. It highlights the challenges in capturing the value of free digital services, quality improvements, and innovation within GDP calculations, and discusses alternative metrics and indexes that better reflect societal well-being and economic performance in the modern era.