Economics Roundtable

January 2014 Payroll Employment

We are getting closer to the previous peak.

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.


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Economist’s View (Mark Thoma)

April 23, 2014, 5:03 am, 1259348

Solow on Piketty:

Thomas Piketty Is Right: Everything you need to know about 'Capital in the Twenty-First Century', by Robert Solow: Income inequality in the United States and elsewhere has been worsening since the 1970s. The most striking aspect has been the widening gap between the rich and the ...

April 23, 2014, 5:03 am, 1259349

April 22, 2014, 3:03 pm, 1258997

On the road again, will blog as I can; For now, I have a new column:

Report Card on Fed Policy During the Great Recession, by Mark Thoma: If the economy evolves according to the Federal Reserve’s forecast, quantitative easing is on track to come to a close by ...

April 22, 2014, 5:03 am, 1258656

April 21, 2014, 3:03 pm, 1258388

Simon Wren-Lewis:

House prices and secular stagnation: This post starts off talking about the UK, but then goes global

...Housing is becoming more and more unaffordable for first time buyers. Yet prices are currently booming (at least in London), and demand is so high estate agents are apparently ...

April 21, 2014, 3:03 am, 1258113

April 21, 2014, 3:03 am, 1258112

Can you say, "sadomonetarist"?:

Sweden Turns Japanese, by Paul Krugman, Commentary, NY Times: Three years ago Sweden was widely regarded as a role model in how to deal with a global crisis. ... Sweden, declared The Washington Post, was “the rock star of the recovery.”

Then the sadomonetarists ...

April 20, 2014, 5:03 pm, 1258038

This was in yesterday's links, but it's worth highlighting:

Treat wage theft as a criminal offense, by Catherine Rampell, Washington Post: Forget raising the minimum wage. How about enforcing the meager minimum already on the books?

Over the past year, low-wage workers and their supporters have protested,

April 20, 2014, 5:03 am, 1257913

April 19, 2014, 1:03 pm, 1257819

Dan Little:

The near future: There is a lot going on in America and the world today: climate change, increasing separation between the rich and the non-rich, entrenched poverty in cities, continuing effects of racism in American life, and a rising level of political extremism in this country and ...