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What objective metric would you recommend they use, instead?

• NominalNews 3y ago
  Without opining on the validity of the overall patent count as a measure of creativity, here's a cool paper I saw describing how to determine 'creative patents' - https://raw.githubusercontent.com/aakashkalyani/WebsiteUploads/main/Creativity_JMP_presentation.pdf https://raw.githubusercontent.com/aakashkalyani/WebsiteUploa...
• ClumsyPilot 3y ago
  Productivity improvement in a physical application - it now takes fewer people less time to build a house It takes less resources to remedy a failed over bridge. You’d have to have a basket of measurement like how we measure CPI - current approach is lazy.
  • BobaFloutist 3y ago
    What if an innovation makes things better, instead of faster? The house takes just as long to build, but it's sturdier, longer lasting, better insulated, etc?
    • ClumsyPilot 3y ago
      Well those are all measurable quantities, and you can measure them in proportion to their economic importance - like house insulation is a big change if you live in cold climate, etc. I am not saying it’s easy, but economics is full of complex measurements, financial derivatives, and god knows what. Maybe they should spend some effort measuring the real world.