Economics Roundtable

Technical Problems 3/9/15

The website was down several hours today, but is back up now.


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.


Jobs

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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April 17, 2015, 11:23 am, 1457229

Even if you were nave enough to believe that presumptive Democratic presidential nominee Hillary Clinton was actually listening to anything through her mercifully brief “listening tour” to Iowa — during which she met with a handful of hand-selected and bused-in Democratic activists — the whole adventure demonstrates ...


April 13, 2015, 11:23 am, 1454446

Whenever business owners try to justify regulations that benefit themselves but harm consumers, it always starts the same way: "I'm for free markets, but ... ."

The brewing debate over whether to allow supermarkets to sell full-strength beer, wine and perhaps spirits is already highlighting this dismaying entrepreneurial hypocrisy.

Battle lines are ...


April 8, 2015, 9:23 am, 1452177

On July 2, 1964, the United States enacted the Civil Rights Act of 1964, which banned discrimination in “places of public accommodation” on the basis of “race, color, religion, or national origin.” It also barred practices aimed at keeping blacks from voting and required the desegregation of public facilities ...


April 8, 2015, 3:24 am, 1452064

Although it is not named for the hero of Ayn Rand’s influential novel Atlas Shrugged, Louisville’s Galt House Hotel was an appropriate place for Kentucky Senator Rand Paul to make official his candidacy to be the next president of the United States.

On Tuesday, in front of a crowd ...


March 31, 2015, 3:23 am, 1448108

I’m a not particularly religious Jewish libertarian, which means — if you wouldn’t have guessed — that I don’t have a moral objection to, nor a public policy framework for, homosexuality.

But the reaction by many others who aren’t social issues conservatives to Indiana’s new Religious Freedom Restoration Act — modeled ...


March 23, 2015, 11:24 am, 1443800

Rarely has there been such condemnation of a still-gestating corporate policy as the past week’s kerfuffle over Starbucks’ “Race Together” initiative. Rather than instigate a “national conversation about race” — as if race-weary Americans need more of that right now — news of the plan united critics and comics on ...


March 20, 2015, 9:23 am, 1442682

On Wednesday afternoon, speaking at the City Club of Cleveland, President Barack Obama suggested mandatory voting in the United States as an alternative to campaign finance reform — also known as restricting the free political speech of Americans.

It’s not surprising that Obama would support such a policy: He recognizes that ...


March 12, 2015, 11:23 am, 1438189

The recent “Open Letter to the Leaders of the Islamic Republic of Iran” that was signed by 47 Republican senators led by Arkansas freshman Sen. Tom Cotton reminds us why the GOP can’t seem to get away from its reputation as having an uncanny ability to snatch defeat from ...


February 25, 2015, 11:23 am, 1428825

We all know — and are still suffering for — the fact that Republican presidential candidate Mitt Romney was defeated by an incumbent who had (and continues to have) abysmal approval ratings while presiding over an economy that is leaving millions of Americans living a nightmare rather than the American ...


February 24, 2015, 9:23 pm, 1428413

I'm pleased to announce my first ever article for National Review's website. I hope to contribute to them on a regular basis going forward.

Does anybody really buy the Left’s faux outrage over former New York City mayor Rudy Giuliani’s opinion, offered at a private event for Wisconsin governor Scott Walker ...