Summary:
- This article discusses the need for economists to improve their methods of measuring consumption, which is a crucial aspect of understanding economic trends and making accurate predictions.
- The author argues that current approaches to measuring consumption are flawed, as they fail to account for the changing nature of consumer behavior and the rise of digital services and subscription-based models.
- The article suggests that economists should explore new ways of measuring consumption, such as incorporating data from digital platforms and tracking changes in consumer preferences, in order to better understand the complexities of modern economic activity.