Tyler Cowen has a new post that discusses the implications of under-measuring economic growth: Many people suggest that we are under-measuring the benefits of innovation, and thus real rates of economic growth are much higher than we think.  That in turn means the gdp deflator is off and real rates of interest are considerably higher than we think.  Someday we will all realize the truth and asset prices will adjust. Let’s say that view is correct (not my view, by...