In this paper I relate the measurement of intangibles to the project of measuring the sources of growth. I focus on three related and difficult areas of the measurement of national income: the measurement of new goods, the deflation of intangible investment, and the divergence between the social and private valuations of intangible assets. I argue that the economic theory and practice underlying measurement of these items is currently controversial and incomplete, and I point toward how concretely to move forward. Address correspondence t
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