i have a first edition signed by frederick hayek. today they published the essays and asked me to write the introduction but here is a modern-day version where it shows the four stages of production and final output. this is a great way for the students to capture what i call the universal four stage model of the economy. every good and service that you and i use has gone through the resource stage, the production stage, the distribution or the whole retail stage and then a final use this represented number four by gdp. the big news is in april of 2014, the bureau of economic analysis that puts out the gdp statistics has now started to measure the gross output for the total transactions depending on how you want to look at that and we have the pioneer as the director who's that gross output provides an important perspective on the economy and a powerful set of tools and analysis that is closer to the way many businesses see themselves and isn't that true businesses see themselves as producing and moving the product along the producti