Would you pay to quit TikTok and Instagram? You’d be surprised how many would
- Written by: Peter Martin, Visiting Fellow, Crawford School of Public Policy, Australian National University
Social media is a problem for economists. They don’t know how to value it.
It has long been argued that it ought to be in the national accounts as part of gross domestic product. One 2019 study estimated Facebook alone is worth US$40 to US$50 per month for consumers in the United States.
But that’s not what we pay. Social media...
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