everywhere but in the productivity statistics Concepts

The Rise and Fall of American Growth: The U.S. Standard of Living Since the Civil War (The Princeton Economic History of the Western World)

by Robert J. Gordon · 12 Jan 2016 · 1,104pp · 302,176 words

-known analogy between the evolution of electric machinery and of the electronic computer.14 In 1987, Robert Solow quipped, “We can see the computer age everywhere but in the productivity statistics.”15 David responded, in effect: “Just wait”—suggesting that the previous example of the electric dynamo and other electric machinery implied that a long gestation

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productivity growth in the 1980s. Reacting to the failure of these innovations to boost productivity growth, Robert Solow quipped, “You can see the computer age everywhere but in the productivity statistics.”18 Slow TFP growth in this period indicates that the benefits of the first round of computer applications partially masked an even more severe slowdown

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on a Kindle or surfing the web on a smartphone. This brings us back to Solow’s quip—that we can see the computer age everywhere but in the productivity statistics. The final answer to Solow’s computer paradox is that computers are not everywhere. We don’t eat computers or wear them or drive to

Power and Progress: Our Thousand-Year Struggle Over Technology and Prosperity

by Daron Acemoglu and Simon Johnson · 15 May 2023 · 619pp · 177,548 words

the fruits of the digital revolution are much harder to see. In 1987, Nobel Prize winner Robert Solow wrote: “You can see the computer age everywhere but in the productivity statistics,” pointing out the small gains from investments in digital technologies. Those more optimistic about computers told Solow that he had to be patient; productivity growth

The Age of Turbulence: Adventures in a New World (Hardback) - Common

by Alan Greenspan · 14 Jun 2007

article in 1989 that addressed the puzzle of why, in the famous words of Nobel laureate economist and then-MIT professor Robert Solow, computers were "everywhere but in the productivity statistics." It was David's article that heightened my interest in long-term productivity trends. He pointed out that it often took decades for a new

Machine, Platform, Crowd: Harnessing Our Digital Future

by Andrew McAfee and Erik Brynjolfsson · 26 Jun 2017 · 472pp · 117,093 words

, who later that year would win a Nobel prize for his work on the sources of economic growth, wrote, “You can see the computer age everywhere but in the productivity statistics.” By the mid-1990s, that was no longer true; productivity started to grow much faster, and a large amount of research (some of it conducted

The Great Divide: Unequal Societies and What We Can Do About Them

by Joseph E. Stiglitz · 15 Mar 2015 · 409pp · 125,611 words

personal computers. In 1987, the economist Robert Solow—awarded the Nobel Prize for his pioneering work on growth—lamented, “You can see the computer age everywhere but in the productivity statistics.” There are several possible explanations for this. Perhaps GDP does not really capture the improvements in living standards that computer-age innovation is engendering. Or

Prediction Machines: The Simple Economics of Artificial Intelligence

by Ajay Agrawal, Joshua Gans and Avi Goldfarb · 16 Apr 2018 · 345pp · 75,660 words

, they experimented. But the fruits of those experiments took time to materialize. Robert Solow, a Nobel laureate economist, lamented, “You can see the computer age everywhere but in the productivity statistics.”1 From this challenge came an interesting business movement called “reengineering.” In 1993, Michael Hammer and James Champy, in their book Reengineering the Corporation, argued

The Rational Optimist: How Prosperity Evolves

by Matt Ridley · 17 May 2010 · 462pp · 150,129 words

at first puzzled many economists. They wanted to credit computers, but as the economist Robert Solow had quipped in 1987, ‘you can see the computer everywhere but in the productivity statistics’, and those of us who experienced how easy it was to waste time using a computer in those days agreed. A study by McKinsey concluded

Give People Money

by Annie Lowrey · 10 Jul 2018 · 242pp · 73,728 words

to become ubiquitous in businesses and homes. As the economist Robert Solow—hence the Solow residual—quipped in 1987, “You can see the computer age everywhere but in the productivity statistics.” In most cases, productivity did speed up once innovators invented complementary technologies and businesses had a long while to adjust—suggesting that the innovation gains

The Technology Trap: Capital, Labor, and Power in the Age of Automation

by Carl Benedikt Frey · 17 Jun 2019 · 626pp · 167,836 words

right in thinking so. When computerization finally took off, unforeseen glitches emerged. In 1987, when Robert Solow puzzled that “we can see the computer age everywhere but in the productivity statistics,” an article in the Wall Street Journal reported: “Companies are automating in smaller doses now, a strategy that allows bugs to be worked out before

The Price of Time: The Real Story of Interest

by Edward Chancellor · 15 Aug 2022 · 829pp · 187,394 words

with machines’.18 Gordon’s concerns recall a famous comment made by MIT economist Bob Solow in 1987, that ‘you can see the computer age everywhere but in the productivity statistics.’ The Nobel laureate Solow spoke too soon. Not long afterwards US productivity growth picked up, assisted presumably by advances in information technology. As Gordon’s