Economics Roundtable

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 .

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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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October 29, 2014, 8:44 pm, 1360230

Nobel laureate and emeritus professor at MIT Robert Solow sat down with EconTalk host Russ Roberts this week to discuss growth theory and the challenges of macroeconomics.

Now let's hear from you. Use the prompts below for comments here at EconTalk, or use them to start your ...

October 27, 2014, 6:44 am, 1358083

Robert Solow, Professor Emeritus at Massachusetts Institute of Technology and Nobel Laureate, talks with EconTalk host Russ Roberts about his hugely influential theory of growth and inspiration to create a model that better reflected the stable long-term growth of an economy. Solow contends that capital ...

October 22, 2014, 12:44 am, 1355205

This week, Russ Roberts welcomed back University of Chicago's Luigi Zingales to talk about a recent essay in which Zingales argues that economists are subject to many of the same sorts of biases as regulators because of the incentives they face.

And now we want to hear from you. Use ...

October 20, 2014, 6:44 am, 1353894

Luigi Zingales of the University of Chicago's Booth School of Business talks with EconTalk host Russ Roberts about Zingales's essay, "Preventing Economists' Capture." Zingales argues that just as regulators become swayed by the implicit incentives of dealing with industry executives, so too with economists who ...

October 14, 2014, 10:44 pm, 1351216

This week, there was a new sheriff in town! Russ Roberts was the guest in this week's episode, while EconTalk fave Mike Munger stood in as interviewer. The subject was Roberts's new book, How Adam Smith Can Change Your Life. Whether your life changes have already happened or ...

October 13, 2014, 6:44 am, 1349987

EconTalk host Russ Roberts is interviewed by long-time EconTalk guest Michael Munger about Russ's new book, How Adam Smith Can Change Your Life: An Unexpected Guide to Human Nature and Happiness. Topics discussed include how economists view human motivation and consumer behavior, the role of conscience ...

October 8, 2014, 2:44 pm, 1348008

Are you concerned that robots will take your job? Could you write out complete instructions for riding a bike? This week, EconTalk host Russ Roberts explored these questions and more with MIT's David Autor. Now we'd like to hear from you.

Please use the questions below as prompts for the ...

October 6, 2014, 6:44 am, 1346481

David Autor of the Massachusetts Institute of Technology talks with EconTalk host Russ Roberts about the future of work and the role that automation and smart machines might play in the workforce. Autor stresses the importance of Michael Polanyi's insight that many of the things ...

October 1, 2014, 12:44 am, 1344090

This week's episode was a conversation with University of Chicago philosopher Martha Nussbaum. She and EconTalk host Russ Roberts discussed her work on the capabilities approach, the limits of GDP, stoicism, and the value of philosophy.

We'd like to hear your reaction to their conversation. As always, our goal is ...

September 29, 2014, 6:44 am, 1342791

Martha Nussbaum of the University of Chicago and author of Creating Capabilities talks with EconTalk host Russ Roberts about an alternative to GDP for measuring economic performance at the national level. She is a proponent of the capabilities approach that emphasizes how easily individuals can ...