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February 05, 2007

Comments

Henry Engler

Irving

Many thanks for the thoughtful and important article. I actually think the application of technologies in the workplace across numerous industries is something that from an economic policy perspective is highly important but lacking in the tools necessary for a proper understanding. One of the major challenges today and going forward is the ability to accurately "measure" the applications of new or old technologies in the marketplace as companies innovate on site.
Many of the statistical methodologies used by various governmental agencies were developed decades ago and as such are unable to fully capture the underlying trends and changes you describe. Hence, the debate about U.S. productivity and how much is real versus imagined. From a policy perspective the risk is that we have a limited view of what is actually happening in the economy, which can then lead to less-than-informed policy debates and solutions.
I actually think the whole area of economic measurement at the macro- and micro-level is ripe for the application of new technologies so that government agencies and policymakers have an enhanced understanding.

Kind regards

Henry Engler

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