GDP is like a heart rate monitor: it tells us about life, but not about our lives

By Peter Martin, Visiting Fellow, Crawford School of Public Policy, Australian National University

How much cash would you need to be paid to agree to live without a smartphone for a year?

If you are like the typical American, the answer is US$10,000 – which is far, far more than what we are actually charged for having and using smartphones.

How much would you need to be paid to live without a computer?

According to the same research, just published by Stanford University’s Hoover Institution, a…

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