I presented two papers on Austrian economics at the annual Association of Private Enterprise Education (APEE) last week.
One was called ‚??Squaring the Mises Circle:¬†How to Integrate Austrian Economics in the Classroom and Mainstream Textbooks.‚?Ě¬†The other was entitled, ‚??Measuring Hayek‚??s Triangle:¬†Gross Output as the Top Line in National Income Accounting and a Leading Indicator.‚?Ě
In both presentations, I talked about gross output (GO) as an important breakthrough in accurately measuring the economy.¬†It demonstrates that business is the key catalyst in determining the direction of the economy and our standard of living.
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