Book Club Speaker: Mark Skousen, Author of 'The Making of Modern Economics'
Join us for cocktails and a presentation by Mark Skousen, author of the book "The Making of Modern Economics"
The Making of Modern Economics by author Mark Skousen, Ph.D.
Here is a bold, new account of the lives and ideas of the great economists - Adam Smith, Karl Marx, John Maynard Keynes, Ludwig von Mises, Milton Friedman, and many others - all written by a top free-market economist and presented in an entertaining and persuasive style. Professor Mark Skousen tells a powerful story of economics with dozens of anecdotes of the great economic thinkers.
Review for “The Making of Modern Economics”:
"With a supreme, lively blend of economics and sociology of economics, Skousen has magnificently managed to put flesh, blood, and DNA on the skeleton of economics in this survey of great economic thinkers. ... His new work is must reading for economists who want to acquire professional depth and richness." --Four Star Review from CHOICE, June 2009
Reviews for Skousen’s “The Structure of Production”:
“The next economics will have to be centered on supply and the factors of production rather than being functions of demand. I've read Mark Skousen’s book twice, and it comes the closest to achieving this goal.” -Peter F. Drucker, Claremont Graduate University
“Skousen’s Structure of Production should be a required text at our leading universities. The book masterfully juxtaposes the ideas of the 'Austrians' against mainstream economics yet it is balanced, fair, well written and clearly illustrated. It is an important book for students of economics and a treasure for academics.” -John O. Whitney, Emeritus Professor in Management Practice at Columbia University
Mark Skousen, Ph. D., is a Presidential Fellow at Chapman University in California. Since 1980, Skousen has been editor in chief of Forecasts & Strategies, a popular award-winning investment newsletter. He has written for the Wall Street Journal, Forbes, the Christian Science Monitor, and the Journal of Economic Perspectives. His economics works include The Structure of Production* (NYU Press), The Making of Modern Economics (ME Sharpe), Economic Logic (Capital Press), and EconoPower (Wiley &Sons). His investment books include Investing in One Lesson (Capital Press), and The Maxims of Wall Street (Eagle Publishing). His latest book is A Viennese Waltz Down Wall Street: Austrian Economics for Investors (LFB Publishers).
*Note on Gross Output (GO) and Gross Domestic Product (GDP):
In 2014, the U. S. government adopted a new quarterly statistic called Gross Output, the most significance advance in national income accounting since Gross Domestic Product 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 his book “Structure of Production” first published in 1990 and now in its 3rdedition 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.
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