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.

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The Austrian Economists

November 25, 2014, 9:33 am, 1377572

|Peter Boettke|

Russ Roberts has a new book out -- How Can Adam Smith Change Your Life -- and on a recent EconTalk episode he sat down with Vernon Smith to discuss the ideas of Adam Smith.  Back in 1997, Vernon Smith delivered a wonderful distinguished ...

November 18, 2014, 1:33 pm, 1373580

|Peter Boettke|

When baseball scouts look at potential players they judge them against a standard of what is called a five-tool-player.  Such a player can hit for a high average, can hit with power, can run fast, has a strong throwing arm, and they have great fielding ability at ...

November 17, 2014, 11:33 am, 1372787

|Peter Boettke|

The Mises Institute Brazil has me down for their conference in September where I gave 2 talks -- one on the broad theme of Austrian economics within the scientific community of economists, the other on the financial crisis.  Both talks are now available on You Tube, I ...

November 11, 2014, 11:33 am, 1369109

|Peter Boettke|

Last Sunday (November 9th 2014) marked the 25th anniversary of the Fall of the Berlin Wall.  The Soviet Union would collapse 2 years later on December 26th 1991 in the wake of the failed coup attempt in August by hard-liners.

I started paying ...

November 3, 2014, 9:33 am, 1363090

|Peter Boettke|

IEA has published a new monograph by Pascal Salin that I highly recommend -- Money and Micro-Economics.

Highlights for me include Salin's emphasis that: "Statements about money and monetary policy are often inspired by supposed relationships between macro-economic variables. But these statements neglect the monetary behaviour of individuals. A realistic ...

October 28, 2014, 11:33 am, 1359076

|Peter Boettke|

Richard Ebeling has a very nice overview article on Israel Kirzner and his contributions to economic science and the political economy of freedom.

October 20, 2014, 3:33 pm, 1354270

|Peter Boettke|

Coming to a PBS station near you -- Water Williams: Suffer No Fools.  

It is one of the great honors of my life to have been hired at GMU when Walter Williams was the Department Chairman.  Walter signs his articles and books, Walter E. ...

October 20, 2014, 9:33 am, 1354022

The Society for the Development of Austrian Economics is pleased to announce the winners of the 2014 Carl Menger Essay Contest for undergraduate students. Professors Daniel Smith, Michael Thomas, and Adam Martin were this year’s judges. All entries were anonymous.

The prize comes with $500 plus a ...

October 17, 2014, 11:33 am, 1353001

|Peter Boettke|

I am visiting the Free Market Institute at Texas Tech University for this week and next.  What is going on here is truly special intellectually and institutionally!  The energy and excitement among the faculty, graduate students, the upper administration of the university, and the community ...

October 14, 2014, 1:33 pm, 1350965