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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"Art Diamond’s web log”

December 2, 2016, 5:33 am, 1699165

Source of graph: online version of the WSJ article quoted and cited below.

(p. A3) Americans are leaving the costliest ...

November 30, 2016, 5:33 am, 1698464

(p. B1) They replaced horses, didn't they? That's how the late, great economist Wassily Leontief responded 35 years ago to those who argued technology would never really replace people's work.

. . .

(p. B6) A research paper published last month by the Organization for ...

November 25, 2016, 5:33 am, 1697276

(p. 3) Benjamin M. Friedman of Harvard University, in his book "The Moral Consequences of Economic Growth" (Knopf, 2005), said that at a deep level people make judgments about the economic progress that they see in their own lifetimes, and in comparison with the progress made by ...

November 7, 2016, 5:33 am, 1691201

Source of graph: online version of the WSJ article quoted and cited below.

(p. B1) American employers struggling to find ...

November 6, 2016, 5:33 am, 1690891

(p. B5) Chances are slim that the car, starting at just over $200,000 ($215,000 as tested), will grab market share from the Toyota Corolla and Honda Civic. But in the four days I had the GT, my wife was astonished at my eagerness to run errands of ...

November 2, 2016, 5:33 am, 1689381

(p. A15) To help fight . . . economic sluggishness, Japan has invested enormously in infrastructure, building scores of bridges, tunnels, highways, and trains, as well as new airports--some barely used. The New York Times reported that, between 1991 and late 2008, the country spent $6.3 trillion ...

October 27, 2016, 5:33 am, 1687267

Sharma's theory sounds somewhat similar to that of Bhidé in his The Venturesome Economy.

(p. B4) Anshu​ Sharma,​ a venture capitalist at Storm Ventures, thinks he knows why so many companies that should have all the resources and brainpower required to build ...

October 18, 2016, 5:33 am, 1684473

(p. B1) Ford Motor Co. is experimenting with a new form of 3-D printing the auto maker says could solve a structural flaw that has kept the technology from widespread use in manufacturing.

The ability to "print" parts within an assembly plant would drastically reduce transport and logistics ...

October 15, 2016, 5:33 am, 1683873

(p. B3) MUMBAI, India -- Three years before the 2008 global financial crisis, an Indian economist named Raghuram G. Rajan presciently warned a skeptical audience of top economic thinkers that excessive risk threatened the entire global financial system.

As Mr. Rajan stepped down on Sunday [Sept. 4, 2016] ...

October 8, 2016, 5:33 am, 1681956

(p. A13) Does the internet pose a threat to established entertainment companies? Michael D. Smith and Rahul Telang lead a class at Carnegie Mellon University in which a student recently put that question to a visiting executive. He pooh-poohed the idea: "The original players in this industry have ...