Google Economics: Data – Complex Models – well-informed Policy Making
Time & Location
About the Event
Rebuilding Macroeocnomics present its main findings from the Data Study Group with Doyne Farmer, Claire Connellly and Carla Coburger at the 2020 Data for Policy conference.
Current economic data collection methods are not equipped for the digital economy of the 21s t century. Data collection cannot be separated from the development of economic models – the two must proceed hand-in-hand.
We envision the concept of “Google Economics”: a world where data is publicly available and searchable by type and category on any device, by anyone. In a world of big data, artificial intelligence and the Internet of Things, (concepts we will explain in detail in further chapters), we envision collecting enough data and curating it in a way that any person could point their smartphone at a building and it would tell you about all of the economic activity occurring within its walls, including:
- The flow of goods and services moving in-and-out of the building
- Stocks and flows of capital
- The web of contracts linking the activities and relationships between employers, staff, vendors, distributors, financiers etc.
- Demographics and occupational capabilities: wealth and poverty
- The ecology of innovation: identifying the thinkers influencing economic activity
- Identifying the physical and environmental impacts of economic activity: how much carbon is being emitted, or exploring how accomplished recycling programs and activities have been
More information here: https://dataforpolicy.org/data-for-policy-2020-special-track/#1582004349607-5d606649-91313