Category Archives: Other

GO

New Academic Article Supports GO and Austrian Theory of the Business Cycle

Mark Gertsen (University of Groningen) has just published an academic study in favor of gross output (GO) as a powerful new macroeconomic tool and statistic. His article, “Interest Rates, Roundaboutness, and Business Cycles: An Empirical Study,” is published in the fall 2019 issue of the Quarterly Journal of Austrian Economics.

You can read it here:  https://doi.org/10.35297/qjae.010024 

Using advanced econometric methods on GO data in 28 developed countries (compiled annually by the OECD), Gertsen confirms the Austrian theory of the business cycle, and concludes that changes in interest rates creates a boom-bust business cycle in GO, especially in the early-stages of production. To prove his thesis, he states, “I make use of the Gross Output (GO) metric pioneered by Skousen. Gross Output measures the combined value of all stages of production in the economy.”

 

Thanks, AEIOU,

Mark Skousen

Presidential Fellow, Chapman University

Newsletter:  www.markskousen.com

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Personal website:  www.mskousen.com

Annual conference:  www.freedomfest.com

Mark Skousen Responds to Walter Block’s Critique of GO

Revista Procesos de Mercado (Review of Market Processes) has just published Mark Skousen’s article, “Blocking Progress in Austrian Economics: A Rejoinder,” where he defends his work in gross output (GO) and responds to a recent critique by Walter Block.  Read the entire article on: http://www.procesosdemercado.com/wp-content/uploads/2018/04/2017_02_articulo5.pdf