Potential Output

From the outset, I should say that I am a bigger skeptic of productivity data than most. Once you know how the sausage is made, you will be more skeptical of how it is typically served to customers. Nevertheless, I'm about to lay out three reasons, based on

If we are going to take the supply side seriously - something that may have to happen to support the kind of demand-side policy required for maximum employment - we need to get serious about measuring it.