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The real economy: May 2003

The last fifteen years has been one of the most remarkable periods in economic history. But the American model on which most economic thinking and policy making has been based is not only unattractive, it is inaccurate - both about human motivation and how socially embedded markets actually operate
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A true and fair view of productivity

Politicians, business people and financial commentators talk about economic growth as if they were discussing objective data, like population growth, or temperature. But national income accounting is every bit as much a subjective enterprise as the private sector accounting on which it ultimately depends.
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Insiders calls the tune

Treating the value of share options as a cost makes a dramatic difference to the reported profits of many technology companies. And it points to a broader issue. In the knowledge economy, the distinction between employee remuneration and shareholder return is fundamentally changed
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