BY MARK SKOUSEN Presidential Fellow, Chapman University "If I have seen a little further, it is by standing on the shoulders of giants." -- Sir Isaac Newton Dear readers, I thought you'd … [Read More...]
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MY INTELLECTUAL ANCESTORS
BY MARK SKOUSEN Presidential Fellow, Chapman University "If I have seen a little further, it is by standing on the shoulders of giants." -- Sir Isaac Newton Dear readers, I thought you'd get a kick out of this series of photos and quotes -- looks … [Read More...]
Trade War Threatens Recession
Washington, DC (Monday, July 29, 2019): On July 19, 2019, the federal government released gross output (GO) for the 1st quarter 2019, and the 1.6% real-term growth -- which was 30% lower than the 2.3% advancement from the previous period – strengthened the … [Read More...]
MY SCHEDULE AT FREEDOMFEST 2019
by Mark Skousen Editor, Forecasts & Strategies Dear FreedomFest friends, Welcome to another great FreedomFest, “the world’s largest gathering of free minds.” Every FreedomFest, the first thing I do is get the printed program and circle … [Read More...]
AUSTRIAN VS. CHICAGO ECONOMISTS: RESPONSE TO THE 2008 FINANCIAL CRISIS
By Mark Skousen Updated in 2019 “Blessed paper credit! Last and best supply! That lends corruption lighter wings to fly.” --Alexander Pope Since I wrote “Vienna and Chicago, Friends or Foes?” in 2005, we’ve suffered another monetary crisis, this one … [Read More...]
GO Confirms a Slow-Growth Economy as We Enter 2019
Washington, DC (Friday, April 19, 2019): Today the federal government released gross output (GO) for the 4th quarter 2018, and the increase (2.3% in real terms) confirmed a slow-growth economy as we enter a new year. For the entire year of 2018, real GO grew … [Read More...]
The US Economy is NOT Slowing Down. Business Spending Soars!
By Mark Skousen Editor, Forecasts & Strategies Washington, DC (Thursday, February 21, 2018): “Gross Output provides an important new perspective on the economy and a powerful new set of tools of analysis, one that is closer to the way many businesses see … [Read More...]
The Economist Publishes New Ad for “Making of Modern Economics”
The November 24th issue of The Economist, page 73, is running a new full-page color ad for "The Making of Modern Economics." Here is the ad. (click the image below to see a high resolution version of the ad) … [Read More...]
Gross Output Indicates Continued Boom in the U.S. Economy as Business Spending Expands Rapidly in Q2
Washington, DC (Thursday, November 1, 2018): Gross output (GO), the top line of national accounting that measures spending at all stages of production, continued to build on the growth from the first quarter and advanced at an even faster pace than GDP in the … [Read More...]
ADAM SMITH AND THE MAKING OF MODERN ECONOMICS
By Mark Skousen Presidential Fellow, Chapman University mskousen@chapman.edu (This paper is an expanded version of the first Adam Smith Lecture presented on September 24, 2018, at the Panmure House, Edinburgh, Scotland, sponsored by the Edinburgh School … [Read More...]
US Economy Continues to Expand, but Business Spending Slows Temporarily
Washington, DC (Friday, July 20, 2018): Gross output (GO), the top line of national accounting that measures spending at all stages of production, continued to expand in the first quarter, but at a slower pace than the previous quarter. Based on data … [Read More...]
Full Remarks by Steve Forbes On the Presentation of a Triple Crown in Economics to Mark Skousen
The following are Mr. Forbes remarks following Skousen’s session on “Adam Smith, Marx and Keynes: Who’s Winning the Battle of Ideas?” on Wednesday, July 11, 2018, at the Global Economic Summit, FreedomFest, Paris Resort, Las Vegas. Who's winning the … [Read More...]
STEVE FORBES AWARDS MARK SKOUSEN A TRIPLE CROWN IN ECONOMICS
For Immediate Release July 18, 2018 Washington, DC: Steve Forbes, chairman of Forbes Media and Editor-in-Chief of Forbes magazine, bestowed upon economist Mark Skousen a Triple Crown in Economics for his work in economic theory, history and … [Read More...]
Mark Skousen’s article on Revista Procesos de Mercado (Review of Market Processes)
Revista Procesos de Mercado (Review of Market Processes) has just published Mark Skousen's article, "Blocking Progress in Austrian Economics: A Rejoinder," where he defends his work in gross output (GO) and responds to a recent critique by Walter Block. … [Read More...]
If GDP Lags, Watch the Economy GO
‘Gross output’ reflects the full value of the supply chain, and it portends much faster growth. Reprinted from THE WALL STREET JOURNAL. By Mark Skousen The Bureau of Economic Analysis will release its preliminary first-quarter growth figure on … [Read More...]
Away We GO: Business Spending Accelerates in 4th quarter 2017
Washington, DC (Thursday, April 19, 2018) Gross output (GO), the top line of national accounting that measures spending at all stages of production, accelerated economic growth to record levels in the 4th quarter 2017. Based on data released on Thursday, … [Read More...]
GO Slow: New Leading Indicator Predicted Slowdown in GDP
by Mark Skousen Presidential Fellow, Chapman University Editor, Forecasts & Strategies For the previous two quarters (Q2 and Q3, 2017) Gross Output, the new broader measure of the economy that includes the supply chain, was growing at a slower … [Read More...]
THIRD QUARTER GROSS OUTPUT AND B2B SPENDING GAIN MOMENTUM
Washington, DC (Friday, January 19, 2018): Gross output (GO), the top line of national accounting that measures spending at all stages of production, gained momentum in the 3rd quarter 2017. Based on data released on Friday, January 19, 2018 by the BEA and … [Read More...]
2ND QUARTER GROSS OUTPUT SHOWS SURPRISE SLOWDOWN IN ECONOMY
Washington, DC (Thursday, November 2, 2017): Gross output (GO), the top line of national accounting and a leading economic indicator, grew at a slower pace than GDP in the second quarter 2017, indicating a sudden slowdown in economic activity. Mark Skousen, … [Read More...]
ANNOUNCING A NEW EDITION BREAKTHROUGH COURSE IN FREE-MARKET CAPITALISM
“Mark Skousen is America’s leading economic author because he roots his luminous books in the real world. He is the Hayek of our era.” – George Gilder Based on his popular classes at Chapman University and Columbia Business School, Professor Mark Skousen … [Read More...]
RAPID GROWTH IN 1ST QUARTER GO: ECONOMY IS NOT SLOWING DOWN
By: MARK SKOUSEN Washington, DC (Wednesday, July 26, 2017): Gross output (GO), the top line of national accounting that measures spending at all stages of production, continued to increase much faster than GDP in the first quarter 2017, indicating a … [Read More...]
GROSS OUTPUT AND B2B INDEX ADVANCE SHARPLY AFTER ELECTION
Washington, DC (Friday, April 21, 2017): Gross output (GO), the top line of national income accounting, increased sharply and much faster than GDP in the fourth quarter 2016, indicating a robust economy for 2017. “Whenever GO grows faster than GDP, it’s a good … [Read More...]
SECOND QUARTER GROSS OUTPUT AND B2B INDEX INCREASE, STILL NO SIGNIFICANT GROWTH OF THE U.S. ECONOMY.
By Mark Skousen Washington, DC (Thursday, November 3, 2016): Gross output, the top line of national income accounting, increased 1.1% in the second quarter of 2016, according to data released today by the Bureau of Economic Analysis. It is still sluggish … [Read More...]
FIRST QUARTER GROSS OUTPUT AND B2B INDEX POINT TO NEGLIGIBLE GROWTH OF THE U.S. ECONOMY
Washington, DC (Thursday, July 21, 2016): U. S. economic activity is still sluggish and without indication of significant growth. Economic data released today indicates that industries in the early stages of production are struggling, which could spell … [Read More...]
HOW BEN FRANKLIN SAVED THE POST OFFICE AND HELPED UNIFY AMERICA
By Mark Skousen Special to the Franklin Prosperity Report July 4, 2016 “In the fourth year of Franklin’s administration, [the Post Office] paid a profit for the first time in its history.” -- Thomas Fleming, “The Man Who Dared the Lightning” … [Read More...]
FreedomFest Fun Activities
In addition to all the great debates, presentation and hundreds of vendors in our exhibit hall. there are many other activities to occupy your time and challenge your intellect. One … [Read More...]
Big news: the Bureau of Economic Analysis (BEA) has changed its definition of GDP that starts with Gross Output.
This is a significant breakthrough, which I have encouraged them to do for some time. Here is the BEA’s official release (March 25, 2016), which re-defined GDP as follows: "Real gross domestic product -- the value of the goods and services produced by … [Read More...]
FOURTH QUARTER GROSS OUTPUT AND B2B INDEX POINT TO BUSINESS RECESSION
By Mark Skousen April 21, 2016 Washington, DC (Thursday, April 21, 2016): U. S. economic activity continued to slow dramatically in the 4th quarter 2015, threatening recession. As a whole, the growth rate of the economy was anemic, almost flat, for … [Read More...]
CATO INSTITUTE POLICY FORUM: “GO Beyond GDP: What Really Drives the Economy?”
We hear constantly that consumer spending is 70% of GDP and that consumer spending drives the economy. Our government often sets policies and spends taxpayer money in order to increase consumer spending in a misguided attempt to stimulate the … [Read More...]
ANNOUNCING THE NEW THIRD EDITION OF “THE MAKING OF MODERN ECONOMICS” BY MARK SKOUSEN
March 9, 2016: Today marks the 240th anniversary of the publication of “The Wealth of Nations,” by Adam Smith. On this day Dr. Mark Skousen is also pleased to announce the publication of the new third edition of his bestselling history, “The Making of Modern … [Read More...]
Announcing the New Third Edition of “The Structure of Production”
Federal Government Introduces a New Macro Statistic: A Triumph in Supply-side “Austrian” Economics and Say’s Law Mark Skousen, The Structure of Production. New York University Press. Third revised edition, 2015, 402 pages. $26 paperback. Available on … [Read More...]
