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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The Austrian Economists
I had the great fortune to have Gordon Tullock as my teacher and then as a colleague as we both moved back to GMU in 1998. In the decade in-between those, Gordon was a constant source of inspiration and encouragement. When I published my book Why Perestroika ...
Matt Bruenig, "Tired of Capitalism? There Could Be a Better Way," Wash Post 9/30/15.
Here is a sample: "True freedom requires freedom from destitution and freedom from the demands of the employer. Capitalism ensures neither, but a universal basic income, if successful, could provide both."
BTW, perhaps ...
The Society for the Development of Austrian Economics is pleased to announce that nominations are now open for the 2015 Foundation for Economic Education Prizes for the best book and the best article recently published in Austrian economics.
The following conditions apply:
1. Authors nominated must ...
We now have the details for the annual SDAE dinner and business meeting. The event will take place on Sunday night, November 22nd at the New Orleans Marriott. We will start with drinks and a reception from 7:00pm to 8:00pm and then continue with dinner and our program ...
Iâ€™m very happy to announce that the Eastern Economic Journal has a new home. The new team of editors is a combination of faculty from St. Lawrence and Clarkson Universities. I am not one of the editors, but I will be on the board and I ...
Last weekend at one of our Adam Smith Fellows seminars, in response to a question about economic theory, I made reference to the idea that pure theory provides the skeleton and without it the body could not function.
Then last night I was teaching from the works of ...
34 chapters ranging from methodology to the financial crisis. The book is available at Oxford and at Amazon, and a description can be read at ...
The Society for the Development of Austrian Economics is pleased to announce that submissions for the 2015 Don Lavoie Memorial Graduate Student Essay Competition are now being accepted. Submissions will be accepted from advanced PhD students in economics or other relevant disciplines anywhere in the world. The competition ...
Wishing my wonderful colleague a very happy birthday.
I would describe Don as a "joyous economist" -- one who celebrates the beauty of basic economic reasoning and fully embraces joyously our role as teachers of that basic economic reasoning. Don's approach is, I would argue, one committed ...
My new book Hayek's Modern Family: Classical Liberalism and the Evolution of Social Institutions will be available tomorrow from Palgrave and at Amazon. An excerpt from the book's chapter on parental rights is now available as the lead article in the September/October Cato Policy Report. It also includes my response ...