{"product_id":"the-structure-of-production-new-revised-edition","title":"The Structure of Production: New Revised Edition","description":"\u003cp\u003eIn 2014  the U. S. government adopted a new quarterly statistic called gross output (GO)  the most significance advance in national income accounting since gross domestic product (GDP) was developed in the 1940s. The announcement came as a triumph for Mark Skousen  who advocated GO nearly 25 years ago as an essential macroeconomic tool and a better way to measure the economy and the business cycle. Now it has become an official statistic issued quarterly by the Bureau of Economic Analysis at the U. S. Department of Commerce.  In this new revised edition of Structure of Production  Skousen shows why GO is a more accurate and comprehensive measure of the economy because it includes business-to-business transactions that move the supply chain along to final use. (GDP measures the value of finished goods and services only  and omits B-to-B activity.) GO is an attempt to measure spending at all stages of production. Using GO  Skousen demonstrates that the supply-side of the business spending is far more important than consumer spending  is more consistent with economic growth theory  and a better measure of the business cycle.\u003c\/p\u003e","brand":"My Store","offers":[{"title":"Default Title","offer_id":44984481906741,"sku":"ByrdShop_1479848522","price":35.11,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0627\/8139\/0901\/files\/9781479848522.jpg?v=1770834724","url":"https:\/\/atxbooks.com\/products\/the-structure-of-production-new-revised-edition","provider":"ATX Books","version":"1.0","type":"link"}