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Innovation Enigma

The Innovation Enigma

Joseph E. Stiglitz | Posted 12.02.2014 | World
Joseph E. Stiglitz

Around the world, there is enormous enthusiasm for the type of technological innovation symbolized by Silicon Valley, with many attempting to replicate the ingenuity that they regard as America's true comparative advantage. But there is a puzzle: it is difficult to detect the benefits of this innovation in GDP statistics.