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Dale Jorgenson, who passed away in June 2022, was a central contributor to a wide range of economic and policy issues over a long and productive career. This column, written by three of his friends and colleagues, outlines some of his most notable intellectual contributions, including changing how economists think about investment, implementing better ways to measure ....
China expects its service sector to play an important role in helping the economy restructure. This column measures China’s investment in intangibles as a good indicator of an economy’s future creativity. China’s services sector does not invest sufficiently in intangibles. The Chinese wholesale and retail sector, for example, spends only 1.21% of its value added on intangible ....