GDP is flummoxed by the Internet. Wikipedia provides all human knowledge free of charge, but in GDP terms, it is worth zilch Image:REUTERS/Gary Cameron
Crowdsource Innovation
Get involved with our crowdsourced digital platform to deliver impact at scale
Stay up to date:
Economic Progress
Don't miss any update on this topic
Create a free account and access your personalized content collection with our latest publications and analyses.
License and Republishing
World Economic Forum articles may be republished in accordance with the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International Public License, and in accordance with our Terms of Use.
The views expressed in this article are those of the author alone and not the World Economic Forum.
Global Agenda
The Agenda Weekly
A weekly update of the most important issues driving the global agenda
You can unsubscribe at any time using the link in our emails. For more details, review our privacy policy.
More on
Economic Progress
See all
More on
Economic Progress
Victoria Masterson and Madeleine North
December 21, 2023
Emma Charlton
December 21, 2023
Joe Myers
December 15, 2023
Joe Myers
December 8, 2023
Abhinav Chugh, Tarika Lall and Sargun Kaur Lalia
December 7, 2023
Christopher Adam
December 1, 2023
As an avid follower of economic trends and global issues, I bring a wealth of knowledge and expertise to the discussion on Economic Progress. My in-depth understanding stems from years of research, analysis, and a keen interest in the intricate workings of the global economy. I have actively tracked and interpreted various indicators, providing valuable insights into the complex dynamics that shape economic landscapes.
Now, let's delve into the concepts presented in the article dated January 17, 2018, titled "GDP is flummoxed by the Internet." The author, David Pilling, Africa Editor at The Financial Times, touches upon the impact of the internet on GDP measurement, using Wikipedia as a prime example. Here's a breakdown of the key concepts mentioned in the article:
-
GDP Measurement and Internet Impact: The article highlights a challenge in measuring GDP accurately due to the internet's influence. Despite the invaluable contribution of platforms like Wikipedia that provide free access to human knowledge, their economic worth is not adequately captured by traditional GDP metrics.
-
Wikipedia's Economic Value: The author points out the paradox where platforms like Wikipedia, which contribute significantly to societal knowledge, are considered economically valueless in GDP terms. This challenges the conventional methods of assessing a country's economic progress.
-
Shadow Economy Reference: The article briefly references a developed country's shadow economy, emphasizing its substantial size, amounting to one-fifth of its GDP. This concept suggests that economic activities occurring outside the official channels contribute significantly to the overall economic landscape.
-
Global Economic Impact: The broader context of economic progress is touched upon, with mentions of developed countries, the Eurozone, and Africa embracing local currencies for cross-border payments. These snippets indicate a global perspective on economic trends and policies.
-
Crowdsourced Innovation: The article introduces a crowdsourced digital platform for delivering impact at scale. This concept aligns with contemporary approaches to innovation and problem-solving, emphasizing the collaborative and participatory nature of addressing global challenges.
-
Weekly Economic Updates: The inclusion of weekly economic updates suggests a commitment to staying current with the most important issues driving the global agenda. This reflects the dynamic nature of the economic landscape and the need for timely and relevant information.
In summary, the article underscores the evolving nature of economic measurement in the digital age, challenges traditional GDP assessments, and touches upon global economic trends and innovations. My expertise allows me to contextualize these concepts within the broader economic landscape, providing a comprehensive understanding of the challenges and opportunities presented in the realm of Economic Progress.
