The result is that the «output gap» — that is, the difference between actual output and the output achieved at the highest resource utilization rate consistent with price stability — has climbed sharply. (newyorkfed.org)
Neural networks compare actual outputs to expected ones, and correct the predictive error through repetition and optimization. (sciencedaily.com)
Classical political economists from the Physiocrats through Adam Smith, John Stuart Mill and their Progressive Era followers were reformers in the sense that they treated the rentier sectors as extracting transfer payments rather than earning a return for producing actual output («services»). (michael-hudson.com)