The Knowledge Economy

Publications

By / 7.11.2017

The saying “data is the new oil” is at times referenced by analysts working to assess whether our increasingly digital and data-driven world generates positive impact for our economy and society. However, this saying is imprecise. Data should not be compared to oil – it is not a scarce commodity, is nonrival, and cannot be […]

By and / 7.3.2017

When Apple introduced the iPhone in 2007, that initiated a profound and transformative new economic innovation. While central bankers and national leaders struggled with a deep financial crisis and stagnation, the fervent demand for iPhones and the wave of smartphones that followed was a rare force for growth. Today, there are more than 4 billion […]

By / 6.29.2017

In 2016 the United States exported to Europe US$598bn worth of goods and services, and imported $698bn of goods and services. Minus some statistical discrepancies, European countries recorded the inverse flow of imports and exports. For the past century, economists and policymakers have relied on this ‘balancesheet approach to economics to guide their decisions. One […]

Press

By / 7.20.2017

Tap Tapley, the legendary Outward Bound instructor, is said to have described the crux of the experiential outdoor experiential learning school’s approach as “inducing anxiety and then releasing it in a constructive manner.” And for a half century, Outward Bound courses have done just that – putting students in challenging and uncomfortable situations with real […]

By / 7.3.2017

WASHINGTON—The Progressive Policy Institute (PPI) today released a new report, “The Rise of the Australian App Economy,” which estimates 113,000 workers are employed in the Australian App Economy, a growth of at least 11 percent since 2014. It also calculates app Intensity — the number of App Economy jobs in a country as a percentage of […]

Good news: The robots may not destroy us after all. A few weeks ago, I wrote a column that outlined the worries of big thinkers such as Stephen Hawking and Andrew Yang who are predicting a wave of job destruction caused by automation, robots and artificial intelligence. Michael Mandel begs to differ. Mandel is chief […]

Blog

By / 8.3.2017

It’s been well-documented that economic dynamism for many years has been concentrated geographically–in a few tech hubs like SF and NY, in the largest urban areas where young people flock, in coastal states. This geographical concentration appears to have been a major force underlying the 2016 election, where areas left behind by economic prosperity were […]

By / 7.31.2017

In an earlier post, I estimated that the expansion of ecommerce since 2007 is saving American households 64 million hours per week in shopping time.  What impact does this have on measured productivity? This is not an easy question. Unpaid shopping hours are part of  “household production,” which is generally excluded from official calculations of […]

By / 7.29.2017

We think of the United States as a low-inflation economy, with an overall price increase of 36% since 2000, or less than 2% a year.  But the fact is, the inflation  performance of different industries has varied greatly since 2000.  For example, the price of construction has gone up more than 100% since 2000, as […]