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 .
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.
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?
The Economics Roundtable is sponsored by EconModel.
The Classic Economic Models cover micro, macro, and financial markets.
The Austrian Economists
I am the current President-Elect of the Southern Economic Association and one of my primary responsibilities was organizing this year's conference in Washington DC November 19-21.
First, lets acknowledge this is an excellent choice. It is an excellent choice because of the substantive issues Hart and Holmstrom put on the table for economists to grapple with, it is an excellent choice because it signals the importance of economic theory in working through critical issues ...
You can see various pictures and documents in the Special Collections in Fenwick Library throughout the month.
Are are our moral intuitions always destined to be at odds with the moral demands of the "Great Society"?
Richard Ebeling has posted Lecture #3 which discusses the market as a process of competitive cooperation. Richard focuses on the division of labor and the extent of the market.
Again, great stuff to think seriously about with your students.
The critical question for political ...
Jayme's excellent summary of our conversation and the implications can be found here.
"Man must decide to sink or swim." Ludwig von Mises
Economics is about human action.
By the way, read Machlup's essay "What if Matter Could Talk?"
I will be part of a discussion this weekend wrestling with Hayek's ideas. Here is a book panel on the occasion of the release of the edition of The Constitution of Liberty that is in Hayek's Collected Works, besides general editor Bruce Caldwell, the panel also includes the editor ...
"neglecting basic principles ... can lead to devastating consequences."
Listen to Chris Coyne talk about the opportunity cost of war, exporting democracy, and the nirvana fallacy.