Internet

The global push to reinvent GDP

Illustration of a blueprint drawing of an uncompleted hundred dollar bill
Illustration: Aïda Amer/Axios

When GDP became the dominant measure of economies in the 1940s, the internet was still a half-century out. Today, the internet drives a major chunk of economic activity, but GDP misses much of it. This has widened the gap between the closely watched metric and actual economic health.

Driving the news: Economists are working on alternative measures that they say will more correctly gauge national prosperity, accounting for relatively new industries, plus intangibles like income inequality and clean air and water. But the pace of technological advances may be enlarging the gap even as they work to close it.

Facebook outage blamed on a change made to its server settings

A distorted Facebook logo
Photo: Lionel Bonaventure/AFP/Getty Images

An outage that kept many people from accessing Facebook and Instagram on Wednesday was caused by a configuration issue, the company said on Thursday.

Why it matters: The outage, said to be Facebook's longest ever, was not an outside attack.

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