https://signal-and-syntax.com/tags/innovation/Recent content in Innovation on Signal & SyntaxHugoen-usTue, 19 Aug 2025 05:00:00 -0700https://signal-and-syntax.com/posts/tfp-chatgpt/Tue, 19 Aug 2025 05:00:00 -0700https://signal-and-syntax.com/posts/tfp-chatgpt/If ChatGPT can write code, summarize legal briefs, and help draft business strategies in seconds, why doesn’t that show up in our productivity statistics? Economists have long relied on a metric called Total Factor Productivity (TFP) to measure technological progress. But in an era of free digital tools and generative AI, TFP looks more like a rearview mirror than a windshield. It tells us a lot about the past, but almost nothing about where the economy is headed.