Jim Devine wrote: >from SLATE magazine's "today's papers" round-up (by Scott Shuger): > >USA TODAY >leads with a Commerce Dept. study coming out today concluding >that digital business companies are driving the nation's economic growth. >The study states that computer and communication hardware, software, and >services, although only accounting for 8 percent of the U.S. economy, have >contributed more than a third of its growth since 1995. This sector, says >the study, is, thanks to its rising quality and falling prices, controlling >inflation too.< > >Lawrence Summers [or his ghostwriter] minimizes this stuff in the passage >exerpted by Doug. But it's been several years, so maybe the "inforev" is >kicking in? Are they using "real" growth here? Given the big drop in hardware prices, small nominal growth can turn into giant real growth when deflated (or, in this case, inflated). Doug
