Graph-of-the-Year Candidates
Donald Marron likes European interest rates. Click on the image to get a bigger version. Can you find three distinct subperiods?
Brad DeLong favors the U.S. gdp gap.
Finally, it's hard to argue against the payroll employment graph below (straight from FRED) and the comparison across recessions (courtesy of Calculated Risk).
Looking Up At 2001
In February 2001, U.S. payroll employment peaked at 132.5 million. The November 2011 figure of 131.7 million still falls 800,000 jobs short of the earlier peak.
Click on the chart for a larger version.
November Payroll Employment
Remember M1?
Money Supply M1 growth is now over 20% per year over a 12 month lag. M1 growth has touched 20% before, but not with excess reserves of $1.6 trillion. Where is M1 headed?
Click on the chart for a larger version.
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Division of Labour
January 4, 2012, 5:03 pm, 938085
From Investor's Business Daily: http://news.investors.com/Article/595681/201112221
818/occupy-congress.htm The Real Economic Power Is In The Hands Of CongressBy ROBERT LAWSON AND RICHARD ALM Posted 12/22/2011 06:18 PM ET The consistent theme of the Occupy Wall Street movement has been outrage over the concentration of income in the hands of America's rich. In cities ...
December 20, 2011, 1:03 pm, 933647
Question: 1. Explain why state ownership and private property is a false dichotomy for certain types of resources, and what type of rights can emerge, and by what type of process, to manage more efficiently those types of resources. Obviously your answer should detail the characteristics of those certain types ...
November 3, 2011, 1:03 pm, 916344
No, not from H&H Bagel, from Greg Mankiw's intro econ class. From CNN's take on it: An Occupy Wall Street group at Harvard University staged a walk-out Wednesday afternoon of the introductory economics class of Greg Mankiw... Mankiw is the main professor in the Economics 10 class that has about ...
October 5, 2011, 9:03 pm, 905340
More people get angry when you criticize football than if you criticize their religion or politics, and even though I've already posted on why I think football is deficient, I'll use it as a topic here. It's fall, so the local news is full of high school football stories and ...
September 2, 2011, 9:03 am, 892795
From McKenzie and Lee, Microeconomics for MBAs: Without question, if the grocery industry were operated over the past decades the way the healthcare industry has operated, then the nation would likely have a "crisis" in the grocery business. The reason is simple: People would pay a fixed sum each month ...
August 6, 2011, 9:03 pm, 882964
July 2, 2011, 1:03 am, 870572
While poking around in some old debates, I started to get curious about George Stigler's early work. His first publication (1937 J.P.E.) was a 21-page review of Carl Menger's economic theory. Stigler read Menger in German, and the article shows detailed familiarity with, and approval of, the early Austrian school. ...
June 1, 2011, 11:03 am, 859831
Note: He is making the "value neutral" economic arguments here. He is not making the moral case that all people are God's creatures and deserve the right to peacefully move anywhere they want. If you disagree, send your hate mail to him though!...
May 4, 2011, 9:03 am, 850454
From a NYT story on the compound where Osama bin Laden had been hiding: When children playing in the fields let a ball fly into the compound by mistake, the owners never let them retrieve it but gave them 50 rupees to buy a new one, said one of the ...
April 7, 2011, 3:03 pm, 841509
APEE's international conference will be held Sunday through Tuesday in Nassau, Bahamas. It's a great program, and a very exciting group of people attending, including most of your merry band of DOLers. For the highlights, I'll simply past an excerpt of my "president's welcome letter." Welcome to The Bahamas and ...
