The Coming Age of Financial Automation

By Harold James
14 September 2009 @ 04:27 pm EDT

Public debate, especially during economic crises, focuses on growth statistics, which become a kind of fever thermometer. But the readings are unreliable and change constantly, prompting statisticians to think about different ways of measuring an economy's very different products. In particular, newly revised data have called into question the economic scope and role of financial services.

Copyright Project Syndicate, Reprinted with permission.

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