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.

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”

January 20, 2017, 11:33 am, 1712253

…. is from Isabel Paterson’s book The God of the Machine (1943):

Every politically controlled educational system will inculcate the doctrine of state supremacy sooner or later. . . . Once that doctrine has been accepted, it becomes an almost superhuman task to break the stranglehold of the political ...

January 19, 2017, 11:33 am, 1711901

…. is from George Mason University economist Walter E. Williams, writing in his syndicated column this week “International Trade Thuggery“:

All trade is fair in the eyes of the parties trading, or else they would not trade. It’s third parties who seek to interfere.

MP: And it’s not disinterested busybody ...

January 17, 2017, 7:33 pm, 1711346

January 14, 2017, 9:33 pm, 1710623

Writing in The Atlantic, law professor James Kwak makes a very ill-advised case for ignoring economic theory, logic, laws and reasoning and supporting higher government-mandated minimum wages for unskilled workers in an ...

January 14, 2017, 1:33 pm, 1710571

…. is from Milton Friedman (here and here):

What is important is not the particular person who is elected President or the party he belongs to. I have often said we shall not correct the state of affairs by electing the right people; we’ve tried that. The ...

January 13, 2017, 5:33 pm, 1710475

That’s what we learn from Ben Shapiro writing in National Review:

The idea seems to be that unless you declare medical care a right rather than a commodity, you are soulless. This is foolhardy, both morally and practically.

1. Morally, you have no right to demand medical care of me. ...

January 13, 2017, 3:33 pm, 1710432

The chart above displays the estimated burdens of trade tariffs (as a share of after-tax household income) on US households by income deciles. It represents graphically the main ...

January 12, 2017, 5:33 pm, 1710131

I’ve taken the liberty of doing some editing of this press release from New York Governor Cuomo’s office about his new “Buy American New York” mandate for state procurement spending to help demonstrate how those protectionist policies are self-defeating and illogical. If a “Buy America” policy can save ...

January 11, 2017, 7:33 pm, 1709822

1. Chart and Table of the Day ...

January 10, 2017, 11:33 am, 1709303

The cartoon above explains everything that’s wrong with punitive, protective trade tariffs in a single picture: they ultimately generate great harm for American consumers, American workers ...