Economics Roundtable

May 2014 Payroll Employment

After 76 months, we finally got back to the prerecession level of payroll employment.

Click on the image to get a bigger version.


The best summary of the state of our economy is the graph (below) of employment as a fraction of population for people over 16 years old. The decrease is large, but the most troubling feature of the graph is the flat trend .

Click on the image to get a bigger version.

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.

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.


The Economics Roundtable is sponsored by EconModel.

The Classic Economic Models cover micro, macro, and financial markets.

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U.S. Food Policy (Parke Wilde)

"U.S. Food Policy and Economics from a Public Interest Perspective”

November 13, 2015, 11:03 am, 1576086
The Center for Consumer Freedom (CCF) is a classic industry-funded front group, secretive about its funding sources and utterly mercenary in its writing.

I once enjoyed debating soda policy in New York City with J. Justin Wilson from CCF in Episode 1 of a series of roundtables organized ...

November 11, 2015, 11:03 am, 1574685
Marion Nestle's new book is Soda Politics: Taking on Big Soda (and Winning) (Oxford University Press, 2015).

The book is thorough, balanced, hard-hitting, and motivating. It covers health effects, industry structure, marketing to adults, marketing to children, marketing overseas, policy responses, and advocacy movements.
The writing is ...

November 9, 2015, 3:03 pm, 1573291
The Friedman School of Nutrition Science and Policy at Tufts University in Boston is hiring at the associate professor and full professor level in (a) food industry marketing and management and (2) food policy implementation and evaluation, among other areas. Applicants may include researchers in business, economics, ...

November 3, 2015, 1:03 pm, 1569162
In Health Affairs this week, I review The End of Plenty: The Race to Feed a Crowded World (W. W. Norton, 2015), by agronomist and journalist Joel K. Bourne Jr.

In an amusing passage, Bourne visits Bath Abbey in England and looks for the grave of 19th Century ...

October 31, 2015, 5:03 pm, 1567733
There appears to be a large literature using the same words to say that "nanotechnology" is an "enabling" technology that will "revolutionize the food system".

A 2008 book by Ajit Kumar Roy and Niranjan Sarangi says:

Nanotechnology, as a new enabling technology, has the potential to revolutionize ...

October 30, 2015, 11:03 am, 1567007
Presidential candidate Ben Carson was asked during debate this week about his ties to Mannatech, maker of a dubious nutrition supplement based on "glycoscience."

Carson responded:

I didn’t have an involvement with them. That is total propaganda, and this is what happens in our society. Total propaganda. ...

October 27, 2015, 7:03 pm, 1564883
A 2014 post in this blog noted that food safety problems are fundamentally about lack of public information.

If consumers had magic sunglasses that displayed the presence of Salmonella on chicken in the grocery store, there would be no need for government regulation. Immediately, faced with market consequences ...

October 21, 2015, 11:03 am, 1561366
Rebecca Lampman lives and works with her husband and three children on their 250 cow dairy farm in Bruneau, Idaho. In ...

October 20, 2015, 9:03 pm, 1561032
Angus Deaton earlier this month won the Nobel Prize in Economics (or, more formally, the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel).

In the entire field, Deaton is one of the top three or four economists I admire most and read most closely.

October 18, 2015, 3:03 pm, 1559951

For several years now, some academic friends and I have been reflecting on frequent flying in university communities during a time ...