Facebook is free, but should it count toward GDP anyway?

For several decades, gross domestic product (GDP), a sum of the value of purchased goods, has been a ubiquitous yardstick of economic activity. More recently, some observers have suggested that GDP falls short because it ...

Using physics to make better GDP estimates

A team of Italian physicists has used economic complexity theory to produce five-year gross domestic product (GDP) estimates for several countries around the world. In their paper published in the journal Nature Physics, ...

On the edge of friction

(PhysOrg.com) -- The problem exists on both a large and a small scale, and it even bothered the ancient Egyptians. However, although physicists have long had a good understanding of friction in things like stone blocks being ...

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