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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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.


The Economics Roundtable is sponsored by EconModel.

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Adam Smith Lives!

"A History of Economic Thought Blog”

September 12, 2017, 1:13 pm, 1771185

3 conference announcements of interest to historians of economics have come in recently:

1  )from Steve Medema) The 40th annual UK History of Economic Thought
Conference will be held at the University of Edinburgh, Scotland, over 3-5 September,
2008. The conference will retain its traditional ...

September 12, 2017, 1:13 pm, 1771186

Here's a taste of what David will talk about at the Robbins conference in London.  We've obtained a number of Rawls' copies of books by economists, including Rawls' copy of The Nature and Significance.  So we can see what struck Rawls as he read Robbins. Here, you can see ...

September 12, 2017, 1:13 pm, 1771187

The Robbins conference website is now set to go!

September 12, 2017, 1:13 pm, 1771188

Readers know that I studied with Sam Hollander.  Perhaps because of this, I have long felt that Sam's teacher, Lionel Robbins, deserves more recognition than he has been given by the profession.  So I am very pleased that N&S is now 75 years old; we can ...

September 12, 2017, 1:13 pm, 1771184

The annual /History of Political Economy/ Conference -- this year on the topic "Robert Solow and the Development of Growth Economics" -- will be held 25-27 April 2008 at Duke University.  Further information, including the tentative program, can be found on the Duke History of Economy Group website ...

September 12, 2017, 1:13 pm, 1771183

On my on again off again issue -- I plead the increased expectations related to being a dean of a School!  I do intend to return to this blog site systematically again.  I'm teaching Competition, Cooperation and Choice this ...

September 12, 2017, 1:13 pm, 1771180

For Smith, impartiality is the means by which we come to know and do what's right. Since we all wish to be praiseworthy, we'll at least try for impartiality and so come to do what deserves praise. Here's a key passage on this

The man who is conscious to himself that ...

September 12, 2017, 1:13 pm, 1771181

Reading for my class today, TMS part 1. 

The chapter on ambition begins with the lovely passage:

It is because mankind are disposed to sympathize with more entirely with our joy than with our sorrow, that we make parade of our riches, and conceal our poverty.  Nothing is so mortifying as ...

September 12, 2017, 1:13 pm, 1771182
The 2009 FEE Prizes in Austrian Economics

The Society for the Development of Austrian
Economics is pleased to announce that nominations
are now open for the 2009 Foundation for Economic
Education Prizes for the best book and the best
article recently ...

September 12, 2017, 1:13 pm, 1771179


Is there a future for the robust sort of capitalism favoured by Adam Smith or have we reached a limit to Anglo-American capitalism as the engine of human betterment?  Over the last few decades scholars from many points of view have found the basis for a uniquely ...