Economics Roundtable

NOTICE 9/30/177

The Economics Roundtable website has been up and running for a couple of days now. Further periods of testing will be necessary. The RSS feed is still not working. The left sidebar links are also probably not updating correctly.

The problems were caused by updates to the programming language php and to the Apache operating system. It is taking time to track down the problems this causes with my system. - Bill Parke

March 2017 Fed Funds Rate

What is the effect of a 0.25% change in the Fed Funds rate?.

Click on the image to get a bigger version.


March 2017 Payroll Employment

Payroll employment has not grown impressively since 2000. Some baby-boomers retired, but that does not totally account for this graph.

Click on the image to get a bigger version.


May 2014 Payroll Employment

After 76 months, we finally got back to the prerecession level of payroll employment.

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Jobs

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


September 12, 2017, 1:19 pm, 1773935

|Peter Boettke|

Liberty Matters this month features an essay by me on Kirzner with commentary by Mario Rizzo, Peter Klein, and Frederic Sautet.  Please join the conversation once it opens to the public in a week or so.


September 12, 2017, 1:19 pm, 1773936

|Peter Boettke|

The most accomplished and significant scholar in the modern Austrian school of economics -- Israel M. Kirzner -- turns 87 today.  Born February 13, 1930 in London, then raised first in South Africa and then educated in the US at Brooklyn College (BA, 1954) and then New ...


September 12, 2017, 1:19 pm, 1773937

The annual meeting of the Society for the Development of Austrian Economics will be held during the Southern Economics Association meetings in Tampa, FL at the Tampa Marriott Waterside Hotel and Marina, November 17-19, 2017 (Friday to Sunday; more information can be found here: https://www.southerneconomic.org/conference/).

Mem
bers ...


September 12, 2017, 1:19 pm, 1773938

|Peter Boettke|

In one of the most important books in the history of American political life -- Herbert Croly's The Promise of American Life (1909) -- a contrast is drawn between Jefferson and Hamilton.  Hamilton in this work is taken to symbolize professional bureaucracy and a large and effective national ...


September 12, 2017, 1:19 pm, 1773934

|Peter Boettke|

The Mercatus Center has published a new book of mine (co-authored with Matt Mitchell) entitled Applied Mainline Economics: Bridging the Gap Between Theory and Public Policy.  This book owes its origins to Brian Hooks, but its completion to Stefanie Haeffele-Balch.  Stefanie is an amazing colleague to work with -- ...


September 12, 2017, 1:19 pm, 1773933

|Peter Boettke|

I just returned from a fascinating experience in Seoul -- including a Presidential election in Korea that saw a landslide victory for a socialist leaning and "pro-North" candidate Moon Jae-in, and a visit to the DMZ.  The reformer Moon Jae-in is a reaction against charges of corruption and ...


September 12, 2017, 1:19 pm, 1773930

|Peter Boettke|

Hayek, in the context of describing how the prices continually adapts and guide adjustments by the participants to changing circumstances without any central direction, uses the term "marvel" to depict the functioning of the price system (87).*  In fact, he says he chose the word deliberately to ...


September 12, 2017, 1:19 pm, 1773931

The Society for the Development of Austrian Economics is pleased to announce that submissions for the 2017 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 ...


September 12, 2017, 1:19 pm, 1773932

The Society for the Development of Austrian Economics is pleased to announce that nominations are now open for the 2017 SDAE Prizes for the best book and the best article recently published in Austrian economics.

The following conditions apply:


September 12, 2017, 1:19 pm, 1773929

|Peter Boettke|

Today is the birthday of one of the clearest and most humane voices for sound economics, liberal political economy and a champion of civil and respectful discourse on the most vexing issues social cooperation among beautifully diverse and dispersed individuals.  Her vision is of a society of ...