Explain the competitiveness factors supporting the Fourth Industrial Revolution. Article claims that Increased measurement challenges in calculating GDP have lessened its value as
- Read the article and answer the below questions (1-page answer per question; Times New Romans, 12, 1.5 space):Sala-I-Martin, X., Crotti, R., Baller S., Battista A., Drzeniek-Hanouz M., Geiger T., Gaviria D.G., Marti G. (2017), Modernizing the Measurement of Drivers of Prosperity in Light of the Fourth Industrial Revolution, (pp. 51-62). In K. Schwab (Ed.), The global competitiveness report 2016-2017. Geneva: World Economic Forum. (article is posted in eLearning – Learning Modules)Questions to be answered:
- 1. Explain the competitiveness factors supporting the Fourth Industrial Revolution.
- 2. Article claims that “Increased measurement challenges in calculating GDP have lessened its value as an indicator of economic progress, and also calls in to question the accuracy of productivity estimates, which require precise evaluation of output, capital, and labor.” (pp.52). Explain this claim.
- 3. Explain the five directions for measuring competitiveness during the rise of the Fourth Industrial Revolution.
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