5 ms·
I hate this "low innovation" meme. Seriously? Imaginary example, but real tech: Suppose I remember the first half of an Irish reel I heard somewhere, but can'
by colomon 14y ago
I hate this "low innovation" meme. Seriously?
Imaginary example, but real tech: Suppose I remember the first half of an Irish reel I heard somewhere, but can't remember the name or where I heard it. In 1980, trying to track it down would involve months (maybe years) of asking every musician I met if they knew it, hunting through obscure books of music, and if I found a good solid lead, perhaps an expensive international phone call to order a recording of it from Ireland.
Today? I could play the tune into an app on my phone and within seconds know its name, have multiple different sources for downloading (free) sheet music, and in another couple of minutes have purchased and downloaded multiple professional recordings of it.
Two things about this:
1) It's a net negative to GDP. Before I would have spent lots of money on a phone call, a full album, and overseas shipping, now it costs me $1 to get the one track I want. My personal consumer surplus from the new arrangement is really impressive, but the money and time I save doesn't get calculated into the economic figures these people are looking at.
2) The benefit is mostly to the long tail. You've always been able to easily buy Top 40 albums pretty much wherever you were. But now buying any genre you can imagine is easier than buying Top 40 was 32 years ago.
- tatsuke95 14y ago>"1) It's a net negative to GDP" I agree with everything but the above. As you say in your example, that chore rarely gets done in 1980. Today, there can be multiple transactions of this type, done easily, everyday.
- colomon 14y agoHmm. Speaking personally, I don't think my music-buying has more than doubled the number of tracks I purchase in a year from 1994 (first year with a full time job, still had to buy from brick-and-mortar stores) until today. Considering how much CDs cost then versus MP3s today, I wouldn't be surprised if my absolute dollar spending has stayed about the same. (Before correcting for inflation!) Maybe the right way to say this is, I'm getting at least twice as much personal value for the same amount of GDP?
- yxhuvud 14y agoNet contribution to GDP is a bit more complicated because there are secondary effects from the things you spend the money and time on instead.
- colomon 14y agoThat may well be so. But my main point there was that GDP alone is a pretty blinkered standard to use to measure innovation.
- stcredzero 14y agoImaginary example, but real tech It is a real (reel) example. I will attest.