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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"Economics podcasts for daily life”

“Hosted by Russ Roberts”

July 23, 2014, 2:44 pm, 1303834

Chris Blattman of Columbia University talks to EconTalk host Russ Roberts about a radical approach to fighting poverty in desperately poor countries: giving cash to aid recipients and allowing them to spend it as they please. Blattman shares his research and cautious optimism about giving ...

July 14, 2014, 6:44 am, 1300505

D.G. Myers, literary critic and cancer patient, talks with EconTalk host Russ Roberts about the lessons he has learned from receiving a cancer diagnosis six years ago. Myers emphasizes the importance of dealing with cancer honestly and using it as a way to focus attention ...

July 9, 2014, 4:44 am, 1298427

This week, Russ welcomed back Mike Munger for his 26th appearance on EconTalk! Their topic of conversation- the rise of the sharing economy.

We're interested in your experiences in the sharing economy, as well as your reaction to our Extra prompts this week. Respond to them here at EconTalk, ...

July 7, 2014, 6:44 am, 1297358

Mike Munger of Duke University talks with EconTalk host Russ Roberts about the sharing economy--companies like Uber, AirBnB, FlightApp, and DogVacay that let people share their houses, cars, or other assets with strangers in exchange for money. These companies dramatically increase the use of resources ...

July 3, 2014, 2:44 pm, 1296597

In this week's episode, Roberts talks about risk and uncertainty with 2013 Nobel laureate, Lars Peter Hansen.

What are your thoughts on this topic? Use the prompts below the fold to join our conversation online, or start your own offline. Let us know what you think. We love to ...

June 30, 2014, 6:44 am, 1293043

Lars Peter Hansen of the University of Chicago and Nobel Laureate in economics, talks to EconTalk host Russ Roberts about the power and limits of economic models and quantitative methods. Hanson defends the value of models while recognizing their limitations. The two also discuss quantifying ...

June 26, 2014, 2:44 pm, 1291810

Again, I want to thank everyone who responded to the Easterly Essay questions I asked. The last question was:

Roberts challenges Easterly to respond to those who claim that Finland in education or China in economic growth are models that policymakers should emulate. What is the strongest version of ...

June 26, 2014, 8:44 am, 1291636

In the Easterly Essay questions I asked:

What role can (and should) data play in development? How does Easterly answer this question? How would Jeffrey Sachs answer this question? Morten Jerven discusses the quality of data collected by African nations in this 2013 episode. Given some of these challenges, how ...

June 25, 2014, 12:44 pm, 1291202

In the Easterly Essay questions, I asked:

Easterly maintains that one of the biggest problems in the development world is that the rights of the poor are not respected. What does he mean by this? What are the implications for development policy?

Read on for two very different answers to this ...

June 25, 2014, 10:44 am, 1291126

I want to thank the people (39 in all) who submitted essays in response to the questions I posed about the Easterly episode. I thought the best essays were submitted by Luke Edwards, Conor Lennon, Alex Ruth, and Michael Tew. Their essays will be posted here over the ...