Making History: The Feds Adopt My Macro Model with New ‘GDP Plus’ Statistic
“Gross Output provides an important new perspective on the economy; and one that is closer to the way many businesses see themselves.”
— Steve Landefeld, director, Bureau of Economic Analysis, U.S. Department of Commerce
I’m getting great response to my Forbes.com article announcing a new supply-side “Austrian” macro statistic, Gross Output (GO), that the federal government will start releasing in spring 2014 at the same time it reports its quarterly gross domestic product (GDP) data.
A shortened version of the article will appear in the Dec. 16 issue of Forbes magazine (circulation almost 1 million).
I’ve been advocating this new national statistic since writing “The Structure of Production” (New York University Press), published in 1990. Now it’s finally happening. Steve Forbes calls it a “real breakthrough.” Steve Moore of the Wall Street Journal and Gene Epstein of Barron’s are looking into writing articles on GO. So is the Economist.
Read more about my history-making gross output statistic at Eagle Daily Investor.