Here's what's behind the revisions and what it means for you:ĭude, those space whales in Robot Unicorn Attack are awesome. The overhaul recalculates how money has been earned, invested and spent-and rewrites thousands of pieces of historical data across hundreds of lines of dozens of spreadsheets-all the way back to 1929. The new rules will add the equivalent of another Pennsylvania to the economy. That's about 3 percent of the roughly $16 trillion measured by the old rules. economy is about $500 billion larger than we all thought. According to the BEA's new math, the U.S. It turns out all those intangibles are a pretty substantial chunk of business. "We have also all sorts of policies to encourage innovation, we ought to have some sort of solid baseline data on the effects of innovation and intangible assets on the economy," BEA director Steve Landefeld said.
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