The Measure of Progress

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Outdated economic metrics from the 1940s fail to address today's digital economy, distorting policymakers' understanding and responses. Diane Coyle highlights the importance of accurate economic statistics in shaping effective policies that impact people's lives. She argues that current challenges, including stagnant living standards despite technological innovation, necessitate a new framework for data collection and analysis. Coyle suggests that revising our approach to economic measurement is essential for fostering equitable growth and navigating contemporary political and economic landscapes.