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Mark Skousen

Mark Skousen is a Presidential Fellow at Chapman University, editor of Forecasts & Strategies, and author of over 25 books. He is the former president of FEE and now produces FreedomFest, billed as the world's largest gathering of free minds. Based on his work “The Structure of Production” (NYU Press, 1990), the federal government now publishes a broader, more accurate measure of the economy, Gross Output (GO), every quarter along with GDP.

Mark Skousen's Articles

Which Is More Accurate, Say’s Law or Keynes’s Law?

Your intuition is wrong. Eeconomies grow not because consumers demand more and are willing to go into debt, but largely because of a willingness of entrepreneurs and businesses to save and invest in new products and technologies – the supply side of the economy. 

- January 06, 2017

Why Is the "Invisible Hand" in the Middle of Smith’s Works?

To think that Adam Smith, the renowned absent-minded professor, hid a little “invisible” secret in his tomes is indeed the ultimate irony.

- March 09, 2011

Consumer Spending Doesn’t Drive the Economy

The truth is that consumer spending does not account for 70 percent of economic activity and is not the mainstay of the U. S. economy.

- May 17, 2010

I Like Hayek

Who should take the place of Keynes to lead economics into the 21st century? Should it be the economics of Friedman, Ludwig von Mises, Joseph Schumpeter, or F. A. Hayek? While all four have much to offer, I favor Hayek. I am not alone.

- September 01, 2001

Where Are the Best Schools in Austrian Economics?

Here in the United States most colleges and universities have a goodly number of “neoclassical” economists with a free-market bent. (There are a number of “free market” colleges and universities in Latin America, Europe, and Asia, a topic I shall pursue in a future column.) The American schools include the University of Virginia; the University of California, Los Angeles (UCLA); Florida State University; and the University of Chicago.

- July 01, 2001

Pulling Down the Keynesian Cross

In his third and final volume on John Maynard Keynes, Robert Skidelsky comes to the shocking conclusion that the Keynesian revolution was temporary, that Keynes's General Theory was really only a “special” case, and that “free market liberalism” has ultimately triumphed. This is all the more amazing given that Lord Skidelsky has spent the past 20 years of his professional career studying Keynes and resides in Keynes's old estate, Tilton House. Few scholars would have the guts to repudiate the theory of the man they adore.

- June 01, 2001

It All Started with Adam

Adam Smith, that is. Having just completed writing a history of economics,[1] I have concluded that, despite the protestations of Murray Rothbard and other detractors, the eighteenth-century moral philosopher and celebrated author of The Wealth of Nations deserves to be named the founding father of modern economics.

- May 01, 2001

Your One-Stop Source for Sound Economics

Walk into any bookstore and you'll usually find two or three dictionaries of economics. Like any scientific discipline, economics has its own insider terminology, schools of thought, and famous experts. If you haven't taken a course in economics, you may need a reference guide when a writer uses the term externality, liquidity preference, Laffer curve, or Keynesian economics.

- February 01, 2001

The Imperial Science

But attitudes are rapidly changing as we enter the 21st century. Economics, no longer dismal, has come a long way toward reinventing itself and expanding into new territories so rapidly that another descriptive phrase is needed.

- January 01, 2001

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