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?
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Today -- July 29th -- is Peter Leeson's birthday, he is 35. Happy Birthday Pete.
Pete was recently named the Duncan Black Professor of Economics and Law ...
This is an old philosphical thought experiment testing our ideas about observation and reality, but I'd like to ask that question about economic scholarship.
I have been intrigued lately by Frank Knight's ideas about how to integrate neoclassical and institutional economics. See the work of Ross ...
This is the cover from Vol. 2 (October 1959) edition of the Journal of Law and Economics and as you will notice 3 University of Virginia economics faculty are in this issue --- Coase, Buchanan and Nutter. Coase and Buchanan would go on to win the Nobel Prize, ...
Consider the findings of Dr. Sarah Necker, she finds that there is a considerable amount of naughtiness among economist when it comes to their scholarly publishing practices. Her results are interesting in a number of ways, but more so for anyone who never really bought ...
One of the books I have been reading this summer is Peter Schuck's Why Government Fails So Often? (Princeton, 2014). So far, it is excellent. Here is David Henderson's reaction to his work, which I basically share.
I received the sad news yesterday that John Blundell passed away. I have known John and Christine from the moment I decided to get serious about a career as an academic and scholarship within the classical liberal tradition of political and social thought. My wife ...
The Federalism Scholarship of Elinor and Vincent Ostrom: Applications and Reflections
Special Issue Editor John Kincaid
Volume 44 Issue 2 Spring 2014
Robert L. Bish
Vincent Ostromâ€™s Contributions to Political Economy
Publius (Spring 2014) 44 (2): 227-248 doi:10.1093/publius/pjt041
Thomas D. Lancaster
â€śPolitical Monitoringâ€ť as an ...
In the most recent issue of The Review of Political Economy, Andrew Farrant and Edward McPhail continue their scholarly examination of the historical record on Hayek and Pinochet. The abstract from their article reads as follows:
Commenting on the Pinochet regime, Friedrich Hayek famously claimed in 1981 ...
In a column at Vox yesterday morning, Matt Yglesias gave us 7 reasons to think a gold standard is a terrible idea. They are not all completely wrong (a low bar, I suppose), but itâ€™s worth exploring exactly what the problems are.
1) A gold standard wouldnâ€™t ...
The Economist this week features an article detailing the slow growth dilemma of the US economy during this recovery period. See here.
To classical liberal ...