Economic geekery

John Mauldin makes a point that Gross Output may be a better indicator of economic growth than Gross Domestic Product.  And no, we really aren’t discussing how many angels can dance on the head of a pin here.  While a bit dense for those without an interest in economics, this is Pretty Important Stuff, because these are the things by which economic policies are set.  Seeing as how governments aren’t too good at that sort of thing,  these sorts of discussions are important.