The Measure of Progress
from The Bookaway Show Hosted by Rohan
This Book examines how the digital revolution has made traditional economic statistics, such as GDP and productivity, increasingly obsolete. The author argues that modern frameworks fail to account for intangible assets, "free" digital services, and the shifting boundary between market activity and household production. Through examples like online banking and open-source software, the sources illustrate a growing gap between measured growth and actual social welfare. To bridge this divide, the text proposes a transition toward an asset-based framework that values natural, human, and social capital. Ultimately, the work advocates for a new political economy that prioritises sustainability and a more sophisticated understanding of how people allocate their limited time.
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