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.

The Classic Economic Models cover micro, macro, and financial markets.

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Carpe Diem (Mark J. Perry)

"Mark J. Perry’s Blog for Economics and Finance”

October 25, 2016, 3:33 pm, 1686655

…. 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 ...

October 24, 2016, 11:33 pm, 1686369

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 ...

October 23, 2016, 11:33 pm, 1685996

1. Cartoon of the Day (above). Another great one from Henry Payne, see related CD posts here and here. The NAACP’s disgraceful opposition to charter schools ...

October 23, 2016, 5:33 pm, 1685962

…. 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.

The ...

October 22, 2016, 7:33 pm, 1685869

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 ...

October 21, 2016, 7:33 pm, 1685779

Forbes contributor Adam Ozimek described billionaire Nick Hanauer last May as “America’s Worst Minimum Wage Pundit.” Reason? Because of his “exceptionally wrong and ...

October 21, 2016, 5:33 pm, 1685757

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.

Before ...

October 21, 2016, 3:33 pm, 1685718

There are two interesting semi-related initiatives on the ballot for Washington State votes next month, one proposing a state carbon tax and another one calling ...

October 19, 2016, 11:33 pm, 1685142

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 ...

October 19, 2016, 7:33 pm, 1685104

The table above was inspired by the recent Washington Post article “Want college to pay off? These are the 50 majors with ...