Friday December 6, 2019

Growth figures can't capture all digital benefits

It is reasonable to expect that, over time, most of the benefits from digital technologies will fall outside the narrow dimension of quantifiable material welfare

2nd July, 2019
3
Digital transition 'will take time'. Pic: iStock

Western attitudes toward digital technology have soured in recent years, as once-celebrated innovations have begun to reveal their downsides. But, like all technological revolutions, the digital one is a double-edged sword, offering substantial benefits alongside daunting challenges – and certainly not only in the West.

For example, studies show that e-commerce and digital finance in China have contributed to both the rate and inclusiveness of economic growth. Very small businesses (with an average of three...

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