Economics Roundtable

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 .

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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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November 21, 2014, 4:44 pm, 1375959

This week's EconTalk episode with Vernon Smith helped me understand something that has been bothering me for a long time.

Economics students are taught that human beings are maximizers--we want more rather than less of the things that give us pleasure. But we are constrained by our income. That ...

November 19, 2014, 6:44 pm, 1374571

Nobel laureate Vernon Smith joins EconTalk host Russ Roberts this week on EconTalk to discuss Adam Smith's approach to economics and human behavior.

And now we'd like to hear from you...Use the prompts below to share your reactions to this week's conversation in the comments. Or use them to ...

November 17, 2014, 6:44 am, 1372610

Nobel Laureate Vernon L. Smith of Chapman University talks to EconTalk host Russ Roberts about how Adam Smith's book, The Theory of Moral Sentiments has enriched his understanding of human behavior. He contrasts Adam Smith's vision in Sentiments with the traditional neoclassical models of choice ...

November 12, 2014, 4:44 pm, 1370014

We hope your thinking about the economics of the end of life were challenged in this week's episode with palliative care physician Becky Liddicoat Yamarik.

We've taking a slightly different direction in this Extra...We're pleased to introduce our first EconTalk Playlist, along with some prompts for thinking about the economics ...

November 10, 2014, 6:44 am, 1368053

Becky Liddicoat Yamarik, Hospice Palliative Care Physician, talks to EconTalk host Russ Roberts about the joys and challenges of providing care for terminally ill patients. The two discuss the services palliative care provides, how patients make choices about quality of life and when to stop receiving treatment, conflicts ...

November 7, 2014, 8:44 am, 1366483

Russ Roberts welcomed MIT's Daron Acemoglu back to EconTalk this week, in an episode focused on the interplay between institutions and inequality.

Now it's your turn...Use the prompts below and share your reactions in the comments. If you use the prompts elsewhere (in a class, at the dinner table ...

November 3, 2014, 6:44 am, 1362962

Daron Acemoglu, the Elizabeth and James Killian Professor at the Massachusetts Institute of Technology, talks with EconTalk host Russ Roberts about his new paper co-authored with James Robinson, "The Rise and Fall of General Laws of Capitalism," a critique of Thomas Piketty, Karl Marx, and ...

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 ...