Persuasion is now 30 per cent of US GDP
Persuasion is the common thread in almost all voluntary transactions. With persuasion’s footprint in the modern economy substantial and growing, this paper briefly scans the recent literature and suggests the McCloskey-Klamer estimate of the persuasion content of GDP could now be higher.
Volume (Year): (2013)
Issue (Month): 1 (April)
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- Sendhil Mullainathan & Andrei Shleifer, 2005. "Persuasion in Finance," NBER Working Papers 11838, National Bureau of Economic Research, Inc.
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