How big is the impact of Facebook on our lives? That question has caused plenty of hand-wringing this year, as revelations have tumbled out about the political influence of Big Tech companies.
Economists are attempting to look at this question too — but in a different way. They have been quietly trying to calculate the impact of Facebook on gross domestic product data, ie to measure what our social-media addiction is doing to economic output.
This might seem like an obvious question for an economist to ask. After all, statisticians have long counted what companies and consumers do in these GDP numbers.
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