Thank you.
I'm changing the subject here.
Mr. Estill and Mr. Tapp, you both spoke about GDP being problematic as a measure of productivity. I want to give you two examples and then ask you to comment.
The first is that the valuation of AI and tech companies is often based on speculation. They have these massive valuations, but they don't actually produce anything. Therefore, on paper, they have high productivity, but in reality they're not making anything. Cryptocurrencies would be an extreme example of what I would consider a pretend economy.
Also, if you're strictly measuring productivity based on GDP, there's an incentive to build bad products. An example would be, in the housing industry, if I'm building minimum-code products that constantly need repairs and upgrades over their life cycle versus building a high-quality product initially. Productivity over the long run would be higher if you're building a lower-quality product.
I'd like either of you to comment on those scenarios in terms of measures of productivity.