software as capital

[Doug Henwood]

Brynjolfsson's co-author Shinkyu Yang has a research statement at 
<http://web.mit.edu/skyang/www/rs.htm> claiming that a lot of the IT 
return comes from "intangibles," and that investment and GDP are 
understated by failure to account for these intangibles. I thought 
GDP, like capitalism, was about money; has money entered a new realm 
of intangibility?

Doug