Chapter 1 The Economy Is Running the Data Is Walking and Trends versus Cycles
Sending a document cross-town, trading millions of shares of stock, ordering groceries, and manufacturing a car all happen much faster than they have at any time in the past. The acceleration in the speed at which you can get things done in this era of digitally driven innovation is not like anything seen before. New technology is also getting adopted much more quickly than at any time in the past. If everything is moving with such greater speed, economic theories and measurements need to keep pace. Should traditional business and credit cycles move faster than in the past? Why should investors react to data such as gross domestic product (GDP), which was developed ...
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