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Suppose that, thanks to technological advances in videocall software, combined with the price decrease of electronic products such as webcams, laptops, microphones, and such; a
Suppose that, thanks to technological advances in videocall software, combined with the price decrease of electronic products such as webcams, laptops, microphones, and such; a considerable amount of workers can now be as productive working from home as they are working from a centralized office. As a consequence, many employers are offering their workers a permanent transition to either a fully Work From Home scheme or a hybrid scheme, in which they attend the office only a couple of times per week. This transition away from office building, for those workers who choose to take the offer, will allow them to spend more time at home with their pets and families, reduce commutes, and reduce corporate office costs. Discuss the effect of this transition on GDP: what are some positive and negative aspects of WFH schemes that ARE reflected in GDP and what are some positive or negative aspects of it that WILL NOT be reflected in GDP? Are there any positive aspects that are reflected negatively on GDP? Comment on the limitations of GDP as a measure of living standards in the US
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