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What could be the TFP of the Philippines???

First, the dominant reason for slow growth has been what economists label slow “total factor productivity” (TFP) growth. That is, the problem has not primarily been a shortage of capital and labor inputs into production, but rather slow growth in output, given inputs. After growing at about 1 ¾ percent per year between 1996 and 2004, the TFP growth rate has dropped by half since 2005.While TFP has fallen off rapidly, there is no basis for supposing that levels of labor input or capital are less than one would expect given the magnitude of the Great Financial Crisis. In fact, labor force participation rates in 2016 lined up closely with Federal Reserve researchers’ 2006 predictions. This suggests the lack of importance of the various factors adduced by the CEA’s report.

Source: No, “Obamasclerosis” wasnt a real problem for the economy | Larry Summers

The Disruption Antidote This analysis applies to Facebook and Google, two of the other companies in that chart, more than you might expect. While the two companies’ revenues are based on advertising, the attractiveness to advertisers rests on consumers using both services. Both, though, are disadvantaged to an extent because their means of making money operate orthogonally to a great user experience; both are protected by the fact would-be competitors inevitably have the same business model. That is why, fo

Source: Divine Discontent: Disruption’s Antidote – Stratechery by Ben Thompson

The business model follows from these fundamental differences: a platform provider has no room for ads, because the primary function of a platform is provide a stage for the applications that users actually need to shine. Aggregators, on the other hand, particularly Google and Facebook, deal in information, and ads are simply another type of information. Moreover, because the critical point of differentiation for aggregators is the number of users on their platform, advertising is the only possible business

Source: Tech’s Two Philosophies – Stratechery by Ben Thompson

Opinion is not scholarship, it is not journalism, and we are dying for lack of honest, fact-based, slow inquiry. Twenty years since my first scholarship-based op-ed ran in The New York Times, here’s what I see: a postapocalyptic, postmodern media landscape where thoughtfulness and nonpartisan inquiry go to die. The Intellectual Dark Web isn’t a solution, it might just be a sign of end times. I’m all for bringing intellectualism to the masses, but like a lot of academics, I value ambivalence itself, along w

Source: Why I Escaped the ‘Intellectual Dark Web’ – The Chronicle of Higher Education

Entrepreneurs think they are better than their resumes show and realize they can make more money by going it alone. And in most cases, they are right.

Source: Why Entrepreneurs Start Companies Rather Than Join Them