My ‘Gross Output’ Statistic is Adopted by the Government
[In light of this week’s holiday, I am sharing one of my favorite recent columns with you today. This one first appeared on December 5, 2013, when I announced that the Department of Commerce’s Bureau of Economic Analysis decided to adopt the Gross Output statistic that I have championed for more than 20 years. I also am including a “best of” feature from my “You Blew It!” write-ups. That write-up about Obamacare originally was posted on September 25, 2013, but the program still remains hampered by a problem-plagued rollout months after I wrote my original version. I wish you and your family a happy and prosperous new year.]
“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.
Read more about the triumph of my Gross Output statistic at Eagle Daily Investor.