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New Calculations of U.S. GDP Finally Take Research and Development Into Account

Mind Matter

It’s a cliché to note that ideas power the American economy. This week’s official revisions of growth tells us just how significant a factor they are.

articles/2013/08/02/new-calculations-of-u-s-gdp-finally-take-research-and-development-into-account/130801-shapiro-idea-economy-tease-embed_i5kp9r
Jian Wan/Getty

This week, the Bureau of Economic Analysis (BEA) put in place a set of critical changes in how it measures America’s Gross Domestic Product (GDP).

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