Steve Forbes on the GO: I Make the Forbes 400 Richest Issue!

I’m mentioned on page 22 for my gross output (GO) model. (Sorry, I may be worth several million, but not several billion!)

Steve Forbes endorses my GO model, saying GO is a “far more comprehensive, realistic and enlightening picture than gross domestic product (GDP). It is like the difference between an X-ray and a CAT scan.” GO measures spending at all stages of production, including the all-important supply chain, and GDP only measures final output.

GO is a leading economic indicator. It has slowed considerably in 2019, suggesting a slowdown, not a recession.

Forbes

 

In his column, Forbes takes federal officials at the Bureau of Economic Analysis (BEA) to task for not releasing GO on a timely basis. He stated, “President Trump should immediately order the BEA to get off its duff and issue GO at the same time it does GDP.”

Indeed, I’m pleased to announce that Brian Moyer, the BEA director, informed me that the agency plans to release both GO and GDP at the same time by next September 2020… not unlike publicly traded companies issuing “top line” (sales) and “bottom line” (profits) reports every quarter. Economics finally has caught up to accounting and finance in the 21st century!

Steve Forbes’ column on GO is now available to read here.

For more information on GO, go to www.grossoutput.com.
Best wishes, AEIOU,
Presidential Fellow, Chapman University
www.mskousen.com

 

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 like some of the great economic philosophers and writers rubbed off on me!

I’ll try not to get it go to my head…..I still get rejection letters from the American Economic Review!

Henry_Hazlit_tribute_1984

Courtesy:  Mises Institute

My paying tribute to Henry Hazlitt and his classic book, “Economics in One Lesson” in celebration of his 90th birthday (1984)

“Mark Skousen is America’s finest economist.  He has a genius for explaining complex issues in a clear way and connecting ideas.  He is the Henry Hazlitt of our time.”
– Steve Mariotti, President, National Foundation for Teaching Entrepreneurship (NFTE)

MAS_with_Friedrich Hayek_Austria_1985_01

Courtesy:  John Mauldin, 1985

Interviewing Friedrich Hayek in the Austrian alps in 1985

“Mark Skousen is America’s leading economic author because he roots his luminous books in the real world, in the grand tradition of the great Austrian economists.  He is the Hayek of our era.”
– George Gilder

MAS_with_Milton Friedman_San_Francisco_2006_01

Courtesy:  photo by Van Simmons

Meeting with Milton Friedman in his favorite San Francisco restaurant, 2006

“Mark Skousen has emerged as one of the clearest writers on all matters economic today, the next Milton Friedman!” 
– Michael Shermer, Scientific American

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.  See http://www.jesushuertadesoto.com/revista-procesos-de-mercado/vol-xiv-no2-2017/, pp. 153-172.