This process is slow but it makes a long term storage food item.
http://www.askaprepper.com/make-potato-flakes-5-years-shelf-life-without-refrigeration/Cost effective? I don't know. The price of potatoes is low enough, but you also factor in the electricity to dry them. It might be a 'wash" (same price as commercial product)...
I also cannot speak to the claim on storage life, but it is certainly at least a year if kept in sealed containers. Oxy absorbers are a plus, but added expense..
BUT, they taste much better and you still have the whole potato (you did save the skins for soup, right?).
It might be tempting to dry the skins along with the starchy part, but there are a number of enzymes in the skins which may not store well.
One option, not mentioned in the article, is to boil the potatoes WHOLE, slice them in half longways and use a spoon to scrape out most of the starchy body. You are left with a shell, with 1/8 to 1/4 inch of starchy lining, which make excellent "Twice Baked Potatoes" when you refill them with cheese or other filling / stuffing and bake for a short time under the grill.
The potato boiling water, what part remains after you follow the recipe in the article, goes into the soup pot.