The Structure of Production

by Mark Skousen

A clash of economic theories continues to dominate into the twenty-first century. The battle lines are drawn between the Keynesian model of aggregate demand and consumer spending, and the supply-side model of capital investment and saving. Which best reflects the dynamics of the booming global economy? Does aggregate demand determine business activity, new technology, and job creation? Or is economic growth driven by the agents of supply-entrepreneurs, capitalists, and savers? Since its release in 1990, The Structure of Production has been the underground bible for supply-side economics and Austrian macroeconomics, and an analytical tool to explain asset bubbles, commodity inflation, and financial instability.Mark Skousen provides a new introduction that updates his four-stage model with new statistical evidence, applications to textbooks, and historical interpretation. He broadens his industrial model into a universal goods-and-services model; updates his €œtotal

Genres: Economics

415 pages, Hardcover

First published January 1, 1990

About the author

I am a professional economist, financial adviser, university professor, author and producer of FreedomFest, the largest annual gathering of free minds about liberty and freedom in the world. I edit the award-winning financial newsletter, Forecasts & Strategies (www.markskousen.com), and have authored many books on economics, finance, investing and Benjamin Franklin. I have been married to my wife Jo Ann for 35 years, and we have 5 children and 3 terrific grandsons.

Reviews

[Spawk Hw · Rating 5 out of 5]

Among the best books on production ever. Lays outa a very modern conception of the austrian theory of the trade cycle, and has a great chapter on the history of micro economics.

[Kristian · Rating 5 out of 5]

This is the clearest book written on Austrian Capital Theory that I have read thus far; I'm definitely glad I started with this instead of Bohm-Bawerk's work on Capital theory or even Richard von Strigl for that matter. This book is easily digestible and quite satisfying.

[Ronald J. · Rating 4 out of 5]

Great overview of the government's new measurement: Gross Output (what Skousen calls Gross Domestic Expenditure), and why it's a truer measure of economic activity than GDP. Also, he discusses the Austrian school's theory of business cycles and the gold standard.