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.


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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The Austrian Economists

July 1, 2015, 11:34 am, 1500031

|Peter Boettke|

Israel Kirzner joins a distinguished list of recipients of the Hayek Medal that includes Gary Becker, Vernon Smith, Viktor Vanberg and Geoff Brennan.  Obviously, a well deserved honor, and again a subtle and brilliant lecture by Professor Kirzner.


June 30, 2015, 11:34 am, 1499347

Steven Horwitz

The Society for the Development of Austrian Economics is pleased to announce the winners of the 2015 Carl Menger Essay Contest for undergraduate students. Professors Michael Thomas, Adam Martin, and Daniel D’Amico were this year’s judges. All entries were anonymous.

The prize comes with $500 plus a travel ...

June 25, 2015, 9:34 am, 1496864

|Peter Boettke|

A new blog has been established which will be of great interest to those interested in the history of political economy by Irwin Collier of the John F. Kennedy Institute for North American Studies of Freie Universität Berlin-- Economics in the Rear-View Mirror, Archival Artifacts from ...

June 24, 2015, 11:34 am, 1496276

|Peter Boettke|

Webster's Dictionary defines science as follows:

Definition of SCIENCE

1:  the state of knowing : knowledge as distinguished from ignorance or misunderstanding
2a : a department of systematized knowledge as an object of study
2b : something (as a sport or technique) that may be ...

June 22, 2015, 9:33 pm, 1495276

Steve Horwitz

I have a new working paper at SSRN on the role of unsupervised childhood play in enabling children to learn the skills and attitudes central to democracy and liberalism. It expands on a section of Chapter 8 of my forthcoming book Hayek's Modern ...

June 19, 2015, 9:34 pm, 1494188

|Peter Boettke|

How We Came Back: Voices from Post-Katrina New Orleans is now published.  Congratulations to Nona Martin Storr, Emily Chamlee Wright and Virgil Henry Storr for their hard work and dedication to listening and learning from those on-the-ground.

In my foreword to the book I write ...

June 15, 2015, 9:34 am, 1491155

|Peter Boettke|

One of the great joys of working at GMU is that I can go to work everyday with the full knowledge that my co-workers share with me a passion ...

June 1, 2015, 9:34 am, 1483743

|Peter Boettke|

No, I am not going to play TV critic.  But instead just point to a recent paper by Rachel and Chris Coyne dealing with the economics ...

May 27, 2015, 9:34 am, 1481149

|Peter Boettke|

A new working paper is out by my colleagues at Mercatus -- "How the Internet, the Sharing Economy, and Reputational Feedback Mechanisms Solve the 'Lemons Problem.'"  The lead author Adam Thierer has been doing some great work at Mercatus on entrepreneurship and public policy, and ...

May 22, 2015, 1:33 pm, 1479190

|Peter Boettke|

As anyone who has a pulse and is interested in the public/popular discourse about economics as a science knows, Paul Romer has caused quite a stir with his "mathiness" charge against leading figures in the modern economic theory of growth.

Unlike in the past, however, this ...