U.S. GDP to Include R&D and IP
April 24, 2013
April 24, 2013
As a company founded on the principal that invention is an asset class of its own, we noted with great interest that for the first time, the Bureau of Economic Analysis for the U.S. Department of Commerce will be including the value of American companies’ R&D spending and intellectual property to its calculation of gross domestic product (GDP).
Judging by the Preview of the Comprehensive Revision of the National Income and Product Accounts, this development will help to better capture the value of intangible assets and American innovation. Various sources like Alliance Bernstein and the Financial Times have already started to put this revised calculation into context, projecting a 3% increase to the United States’ total GDP.
Until then, we eagerly await the bureau’s final report later this year.
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