The Structure of Production, Author: Mark Skousen.
Economic Logic, Author: Mark Skousen.
By Mark Skousen – Starting in spring 2014, the Bureau of Economic Analysis will release a breakthrough new economic statistic on a quarterly basis. It’s called Gross Output, a measure of total sales volume at all stages of production.
It’s about time. Starting with my work The Structure of Production in 1990 and Economics on Trial in 1991, I have made the case that we needed a new statistic beyond GDP that measures spending throughout the entire production process, not just final output. GO is a move in that direction – a personal triumph 25 years in the making.
GO is a measure of the “make” economy, while GDP represents the “use” economy. Both are essential to understanding how the economy works. more> http://tinyurl.com/py6vyg4
Posted in Book review, Business, Economic development, Economy, Education, History, Regulations
Tagged Business improvement, GDP, Government, Gross domestic product, Gross Output, Industrial economy, Jobs, Manufacturing, Organization, United States
By Dave Nalle – In 2012 we were already at a critical point: The yearly budget of the government had reached 20 percent of the nation’s Gross Domestic Product. As the implementation of the Affordable Care Act proceeds, the healthcare industry, which comprises almost 20 percent more of the economy, will come more and more under government control. This puts us at a higher level of government control of the economy than almost any other European nation, including some which have socialist governments.
This nation was founded on the principle of free markets and minimal government. For most of its history, through the end of the 19th century, the size of government was never a threat.
The shift of power and control to government with the costs put on the backs of a shrinking number of small businesses and middle-class workers is a formula for economic suicide. more> http://tinyurl.com/mw7ka8l
Posted in Business, CONGRESS WATCH, Economy, History, Leadership, Regulations
Tagged Business, Congress Watch, Government, Gross domestic product, Industrial economy, Leadership, Organization, Regulations, United States
By Mieke Van Bavel – The cost of providing adequate healthcare consumes a growing fraction of the GDP in countries across the globe. In absolute numbers, this amounts to 6.5 trillion dollars worldwide. A major part is spent on hospital and ambulatory care.
What the healthcare sector needs, are key enabling technologies. Like a cheap technology that allows accurate and reliable diagnostics for everyone, at any place and at any time. Or a technology that enables to hunt for very rare cells inside our body, like circulating tumor cells, giving a very early indication of diseases like cancer. Or tools, like compact bioreactors, to predict drug efficacy, toxicity and side effects in an early stage. more> http://tinyurl.com/ozonyxm
Posted in Business, Economic development, Economy, Education, Science, Technology
Tagged Business improvement, Gross domestic product, Health, IMEC, Industrial economy, Organization, Super regions, Technology
By Rana Foroohar – There are some historic case studies that give clues as to how QE may end. The smart folks at London-based Capital Economics recently looked at how major shifts in monetary policy played out in 1994 (during which time the bond market crashed) and in the early 1950s (when it didn’t).
Between 1942 and 1951, when America was dealing with an event even larger than the 2008 financial crisis: World War II and its aftermath. The bond-buying program then was nearly as large as today (the Fed’s holdings reached 11% of GDP in 1945, versus 12% now, from a lower base). And it was arguably just as urgent. The 1940s version of QE was meant to keep borrowing costs low to finance the war effort. more> http://tinyurl.com/o35csss
Posted in Banking, Business, Economy, History
Tagged Business, Federal Reserve System, Financial crisis, Gross domestic product, Industrial economy, Monetary policy, Quantitative easing, United States, World War II
Reuters – The Commerce Department said on Friday (Dec 21) that non-defense capital goods orders excluding aircraft, a closely watched proxy for investment plans, jumped 2.7 percent last month, the second straight month of solid gains.
Shipments of non-defense capital goods orders excluding aircraft, used to calculate equipment and software spending in the gross domestic product report, gained 1.8 percent.
Going over the cliff could drain about $600 billion from an already fragile economy. more> http://tinyurl.com/cuz28r2