In a great display of synchronicity, I had two reports released simultaneously today: “Beyond Goods and Services: The (Unmeasured) Rise of the Data-Driven Economy” and “The Geography of the App Economy”.
The first paper came out of the Progressive Policy Institute, and will serve as the keynote paper for the conference we are running in Rome next week, The Rise of the Data-Driven Economy: Implications for Growth and Policy.
The second paper was done for CTIA and the App Developers Alliance by myself and Judy Scherer, under the auspices of the economic development consulting firm South Mountain Economics LLC.
Both papers send the same message–that data is the driving force for both job growth and GDP growth. “The Geography of the App Economy” examines app economy jobs in each state, starting from Washington and California at the top of the list to Wyoming and West Virginia at the bottom. We show that the number of app economy jobs nationally is rising quickly, from 466,000 at the end of 2011 to 519,000 in April 2012. And we have plenty of examples, including ways that states can attract more app economy jobs.
“Beyond Goods and Services: The (Unmeasured) Rise of the Data-Driven Economy” look at the impact of data on economic growth. I argue that data should be a separate economic category, along with goods and services. The implication is that the growth rate of the economy is being underestimated, by about 0.6 percentage points.
There’s a political message here as well, but I think I’ll put that in a different post.