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 .
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
James Buchanan once remarked that "Political economists stress the technical economic principles that one must understand in order to assess alternative arrangements for promoting peaceful cooperation and productive specialization among free men. Yet political economists go further and frankly try to bring out into the open the ...
Many years ago now the social scientist Jon Elster made a Plea for Mechanisms in his Alchemies of the Mind: Rationality and the Emotions (1998). I have always been intrigued by Elster as a thinker, in the same way that I have been intrigued by Albert Hirschman or ...
A George Mason University MA in Economics pays off. The program was recently ranked #30 in the US, and our placement record is actually quite strong for the MA. The Mercatus MA Fellowships are quite generous -- totally around $80,000 or 2 years, ...
"Let us make the hypothesis most favorable to such a calculation; assume that we have overcome all the difficulties in the way of acquiring knowledge of the data of the problem, and that we know the ophelimities of all the goods of each individual, all the ...
It was a very competitive field, but the committee chose Jim Grant's book for the 2015 Hayek Prize.
The annual conference of the Society for the Development of Austrian Economics will be held during the Southern Economics Association meetings in New Orleans Marriott.
Members interested in presenting papers, serving as chairs/discussants, or proposing entire panels should submit proposals by Friday, April 17, 2015. ...
Not quite the Oscar, but still a well deserved nomination. My colleagues Don Boudreaux, Tyler Cowen and Alex Tabarrok at Marginal Revolution University (and the producer Roman Hardgrave) have been nominated for the International Academy of Web Television award in the Best Documentary or Educational Series category. ...
'The Great Recession was a consequences of the rules breaking down, not of the market failing.'
Watch this lecture from 2012 by James M. Buchanan.
One of the more ambitious and exciting educational ventures we have launched at the Mercatus Center at GMU over the past few years is our Adam Smith ...