Unprecedented improvements in digital technologies and productivity have transformed the very foundations of our global economy, rendering 20th-century economic measurements insufficient-and often stunningly inaccurate-in tracking real economic growth. In the groundbreaking and solidly researched Digital Deflation, noted money manager and market analyst Graham Tanaka takes an up-close look at the new economic environment, revealing how far off base many of today's most venerated statistical measures really are. Tanaka introduces models designed to help economists and corporate decision-makers quantify what is really driving productivity growth and corporate value, along with techniques investors can use to uncover and invest in today's most high-potential, undervalued companies. Combining surprising new ideas and eye-opening analysis with convincing charts and graphs, Digital Deflation explains: Why inflation and interest rates are at their lowest levels in decades, and new economic realities that are likely to drive them even lower A unique and illuminating analysis of today's "Productivity Revolution"-and what both developed and emerging economies must do to reap its greatest rewards How and why many of the forces that fueled the '90s stock market growth are poised to return, along with guidelines investors can follow to profit from those forces In addition, interviews with Michael Dell, Gordon Moore, and other pioneers and leading players in the Digital Revolution spell out the history of Digital Deflation, what is happening behind closed doors today, and what economists, observers, and investors should expect in the coming ten to twenty years.