“Mark Skousen’s Gross Output statistic…will have a profound and manifestly positive impact on economic policy and politics.” — Steve Forbes, Forbes magazine, April 14, 2014
The Bureau of Economic Analysis will start releasing Gross Output (GO) along with GDP every quarter starting on Friday, April 25. I consider it a triumph in supply side “Austrian” economics.
I think Steve Forbes captures the importance of this new national statistic in his column in the April 14 edition of Forbes.
Most of the textbook writers are going to include GO in their next edition. Sean Flynn, now the primary writer of the McConnell/Bruce textbook, is going to highlight it.
Here’s Steve’s commentary — New, Revolutionary Way To Measure The Economy Is Coming — Believe Me, This Is A Big Deal: by Steve Forbes http://www.forbes.com/sites/steveforbes/2014/03/26/this-may-save-the-economoy-from-keynesians-and-spend-happy-pols/
Here’s my original article in Forbes — Beyond GDP Get Ready for a New Way to Measure the Economy: by Mark Skousen http://www.forbes.com/sites/realspin/2013/11/29/beyond-gdp-get-ready-for-a-new-way-to-measure-the-economy/
Here’s my op ed in the Wednesday, April 23 edition of the Wall Street Journal — At Last, A Better Economic Measure: by Mark Skousen http://online.wsj.com/article/SB10001424052702303532704579483870616640230.html