Published in
1 min readMay 9, 2016
In a knowledge economy, intellectual capital is as significant as physical capital. Nowadays, investment in workforce skills and training has joined infrastructure as a driver of productivity.
Estimates of annual growth are calculated by immense amounts of data and are typically around 1–2% a year, plus or minus.
It’s much harder to measure the emerging digital and knowledge economy with this data, so statistical agencies are developing new sources that use information such as business tax information and other digital data. If this data is underestimating what is being produced, while the workforce is increasing, the growth rate and level of productivity will also be underestimated.
