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What if an innovation makes things better, instead of faster?

The house takes just as long to build, but it's sturdier, longer lasting, better insulated, etc?




Well those are all measurable quantities, and you can measure them in proportion to their economic importance - like house insulation is a big change if you live in cold climate, etc.

I am not saying it’s easy, but economics is full of complex measurements, financial derivatives, and god knows what. Maybe they should spend some effort measuring the real world.




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