The U. S. Economy Demystified: The Meaning of U. S. Business Statistics and What They Portend about the Future / Edition 3

The U. S. Economy Demystified: The Meaning of U. S. Business Statistics and What They Portend about the Future / Edition 3

by Albert T. Sommers, Lucie R. Blau

Product Details

Free Press
Publication date:
Edition description:
3rd ed
Product dimensions:
6.30(w) x 9.45(h) x (d)

Table of Contents

Figures and Tables
Preface to the Third Edition
1The Long Wave of History1
Historical Origins: the Big Bang2
The Wave in Descent7
2The National Economic Accounting System15
The Structure of the Accounts16
The Measure of Output and Expenditure29
The Income Side of the Accounts38
Relations Between the Output and Income Sides of the Accounts49
Housing in the National Accounts52
Saving and Investment in the National Accounts54
The Federal Government in the National Accounts58
Long-Term Trends in the National Accounts59
Actual and Middle-Expansion Trend Output61
3The Data Stream64
The Personal Sector: Income, Spending, Credit Use64
The Housing Market68
Capital Spending and Its Sources70
Accounting for Corporate Profits73
The Manufacturing Industries: Production, Sales, Inventories, Orders76
Employment and Unemployment79
Prices, Wages, and Productivity82
Financial Data: The Capital Markets87
4How to Watch the Business Cycle91
The Cycle in the Statistics97
Foreshadowing Statistics103
Other Indicators of the Cycle103
5The Influence of Economic Policy112
Fiscal Policy113
Fiscal Flux119
Monetary Policy125
The Condition of Financial Markets128
6The United States in the World138
7Inflation and Economic Policies148
8The Wave of the Future160
The Growth Rate Itself162
The Trend in the Labor Force165
The Productivity Outlook167
A Laboring Government168
The United States in the World: An Emerging Normal171
Private-Sector Considerations173
The Social Burden176
The Ethical Burden177
9Epilogue: A Footnote on the Mixed Economy182
Appendix A: Alphabetical List of Series187
Appendix B: Approximate Release Dates for Monthly Statistics191
Appendix C: Approximate Release Dates for Quarterly Statistics192
About the Authors193
About The Conference Board194

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