Are we undermeasuring productivity gains from the internet?

the productivity slowdown implies a cumulative loss of $2.7t in GDP since the end of 2004; in other words, output would have been that much higher had the earlier rate of productivity growth been maintained. If unmeasured gains are to make up for that difference, that would have to be very large. For instance, consumer surplus would have to be 5x higher in IT-related sectors than elsewhere in the economy, which seems implausibly large.

and

the US productivity slowdown dates back to 1973, and that is perhaps the single biggest problem for trying to attribute this gap mainly to under-measured innovations in the tech sector

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