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 .
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.
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?
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Carpe Diem (Mark J. Perry)
"Mark J. Perry’s Blog for Economics and Finance”
…. is from Professor Clay Routledge’s essay in the Scientific American “We Champion Racial, Gender and Cultural Diversity–Why Not Viewpoint Diversity?” (emphasis added):
Diversity is all the rage on college campuses. And for good reason. It is important for the diversity of our nation to be reflected in higher education ...
I’ve written frequently in recent years on the possible limitations of 1930s-era “Machine Age” national income accounting in the new “Information Age,” and how those accounting procedures are failing to measure and capture the economic value of services like Wikipedia, Craigslist, online music streaming, GPS and online maps, and online ...
…. is from the Saturday WSJ editorial “New York Tries to Kill Airbnb: Too many owners were making too many renters happy“:
The service [Airbnb] fills a market need, and buyer and seller are better off, so naturally politicians want to mess with all this happiness and business efficiency.
In the Sunday New York Times, Harvard economist Greg Mankiw defends ticket scalping secondary ticket markets using economic reasoning in his op-ed “I paid $2,500 for a ‘Hamilton’ ticket and I’m happy about it” — here’s an excerpt:
You may have heard that “Hamilton” tickets are hard to come ...
Forbes contributor Adam Ozimek described billionaire Nick Hanauer last May as “America’s Worst Minimum Wage Pundit.” Reason? Because of his “exceptionally wrong and ...
Here’s a slightly shortened version of my op-ed (“Wind an even bigger boondoggle than ethanol“) that is running this weekend in McClatchy newspapers nationwide.
This is Part II of a three-part series on the Wall Street Journal’s series in Tuesday’s paper on the passive vs. active investing debate. Below is an excerpt from the WSJ article “Wall Street’s “Do-Nothing” Investing Revolution“:
Picking stocks is at heart an arrogant act. It requires in the ...
The table above was inspired by the recent Washington Post article “Want college to pay off? These are the 50 majors with ...