The Structure of Production

Who do you think is the greatest‐ever economist?

“…In 2014, the Bureau of Economic Analysis (BEA) started measuring Hayek's Gross Output (GO), total spending at all stages of production, on a quarterly basis, along with GDP. I urged the BEA to add GO as the ‘top line’ in national income accounting since writing my book Structure of Production (Skousen, 1990). It is complementary to GDP, the ‘bottom line’.…”

Gospodarka Surowcami Mineralnymi - Mineral Resources Management

“…Both of these phenomena affect the level of the profit generated by the company and the implementation of the investment program. In inflationary conditions, dividend-paying companies often suspend dividend payments in order to direct the profit to investments in assets that will preserve the real value of their capital (Skousen 2011). During periods of low inflation, companies have a stable dividend policy and pay dividends every year.…”

The distorted entrepreneurial decision‐making of zombie firms

“…Malinvestment refers to the misallocation of capital resources driven by artificially low interest rates set by monetary authorities (Giménez Roche, 2016; Skousen, 1990). These low rates can lead to perceived profitability in the present, which is unsustainable in the long run.…”