Global Governments Recognize R&D as a Measurable GDP Asset
One year ago today, the Bureau of Economic Analysis (BEA) rewrote 86 years of history by recognizing research and development (R&D) expenditures as an investment in gross domestic product (GDP). Until July 31, 2013, R&D spending was classified as an intermediate expense used during production of a good or service and not a final expenditure. The change immediately increased the United States GDP by 2.7%. As the economic community evolves into the 21st century acknowledging