The Structure of Production: New Revised Edition

Author:   Mark Skousen
Publisher:   New York University Press
Edition:   New Revised Ed
ISBN:  

9781479848522


Pages:   417
Publication Date:   25 September 2015
Format:   Paperback
Availability:   Manufactured on demand   Availability explained
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The Structure of Production: New Revised Edition


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Overview

In 2014, the U. S. government adopted a new quarterly statistic called gross output (GO), the most significance advance in national income accounting since gross domestic product (GDP) was developed in the 1940s. The announcement came as a triumph for Mark Skousen, who advocated GO nearly 25 years ago as an essential macroeconomic tool and a better way to measure the economy and the business cycle. Now it has become an official statistic issued quarterly by the Bureau of Economic Analysis at the U. S. Department of Commerce. In this new revised edition of Structure of Production, Skousen shows why GO is a more accurate and comprehensive measure of the economy because it includes business-to-business transactions that move the supply chain along to final use. (GDP measures the value of finished goods and services only, and omits B-to-B activity.) GO is an attempt to measure spending at all stages of production. Using GO, Skousen demonstrates that the supply-side of the business spending is far more important than consumer spending, is more consistent with economic growth theory, and a better measure of the business cycle.

Full Product Details

Author:   Mark Skousen
Publisher:   New York University Press
Imprint:   New York University Press
Edition:   New Revised Ed
Dimensions:   Width: 15.20cm , Height: 2.30cm , Length: 22.90cm
Weight:   0.658kg
ISBN:  

9781479848522


ISBN 10:   1479848522
Pages:   417
Publication Date:   25 September 2015
Audience:   College/higher education ,  Tertiary & Higher Education
Format:   Paperback
Publisher's Status:   Active
Availability:   Manufactured on demand   Availability explained
We will order this item for you from a manufactured on demand supplier.

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Reviews

Skousens Structure of Production should be a required text at our leading universities. The book masterfully juxtaposes the ideas of the 'Austrians' against mainstream economics yet it is balanced, fair, well written and clearly illustrated. It is an important book for students of economics and a treasure for academics. -- John O. Whitney,Emeritus Professor in Management Practice at Columbia University The next economics will have to be centered on supply and the factors of production rather than being functions of demand. I've read Mark Skousens book twice, and it comes the closest to achieving this goal. -- Peter F. Drucker,Claremont Graduate University


Skousen's Structure of Production should be a required text at our leading universities. -John O. Whitney, Emeritus Professor in Management Practice, Columbia University


Gross Output, long advocated by Mark Skousen, will have a profound and manifestly positive impact on economic policy. -Steve Forbes


Author Information

Mark Skousen is a Presidential Fellow at Chapman University in California. Since 1980, Skousen has been editor in chief of Forecasts & Strategies, a popular award-winning investment newsletter. He has written for the Wall Street Journal, Forbes, the Christian Science Monitor, and the Journal of Economic Perspectives. His economics works include The Structure of Production (NYU Press), The Making of Modern Economics (ME Sharpe), Economic Logic (Capital Press), and EconoPower (Wiley &Sons). His investment books include Investing in One Lesson (Capital Press), and The Maxims of Wall Street (Eagle Publishing). His latest book is A Viennese Waltz Down Wall Street: Austrian Economics for Investors (LFB Publishers).

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