Doddie Weir has MND – no, not a good thing. However, in this constant snarling about how we’re all poorer than our forefathers we’ve a little thing:
We’ve done speech therapy and voice banking. That means whenever my voice disappears, you’ll be able to go through an iPad, press a button and it will come out in my voice.
That voice banking might only be a mild advance for a small number of people in their terminal stages. But it is an advance. And it also doesn’t appear in GDP at all. It’s not a market transaction and thus doesn’t have a price, it’s a hedonic improvement.
And how many more things like that are there out there? Results of that technological change which just aren’t being counted?