Economics Roundtable

NOTICE 9/30/177

The Economics Roundtable website has been up and running for a couple of days now. Further periods of testing will be necessary. The RSS feed is still not working. The left sidebar links are also probably not updating correctly.

The problems were caused by updates to the programming language php and to the Apache operating system. It is taking time to track down the problems this causes with my system. - Bill Parke

March 2017 Fed Funds Rate

What is the effect of a 0.25% change in the Fed Funds rate?.

Click on the image to get a bigger version.


March 2017 Payroll Employment

Payroll employment has not grown impressively since 2000. Some baby-boomers retired, but that does not totally account for this graph.

Click on the image to get a bigger version.


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.


Jobs

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 .


Click on the image to get a bigger version.


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.


EconModel

The Economics Roundtable is sponsored by EconModel.

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


RSS Feed

Taking Hayek Seriously

"The Home Of The Friedrich Hayek Scholars Page”

Greg Ransom


September 12, 2017, 10:22 pm, 1774788

Economists do not understand Hayek.

They simply don’t.

I want here to explain in simple terms what economists don’t get, and what they would grasp if they were to ever understood what Hayek is doing.

Thomas Kuhn explains how roadblocks to explanatory success, and conceptual novelties inspired by explanatory failure, providing new avenues ...


September 12, 2017, 10:22 pm, 1774789

David Wilson has asked me to read his discussion of Hayek and the growing literature on multilevel selection modeling and the wider literature of human cultural evolution. This is my reply which I hope he will welcome in the spirit of filling the gap in the literature on “the ...


September 12, 2017, 10:22 pm, 1774787

Thomas Kuhn describes how science precedes working on normal science puzzles which have anticipated, non-problematic solutions. When those don’t work out, scientists begin to rethinking the conceptual space, the empirical problem to be explained, and the possible explanatory solutions to these re-thought problems, see for example, what Darwin, Einstein, and ...


September 12, 2017, 10:22 pm, 1774786


September 12, 2017, 10:22 pm, 1774785

My wife, my daughters, and I have lost our beautiful son and brother, James Ransom, 2003-2013 to the long-term psychological effects of a traumatic brain injury.  My family believes it is important that people know that James was not depressed, he was a boy with a pre-born intensity and stress-causing ...


September 12, 2017, 10:22 pm, 1774784

Darwin, Galileo, Mayr, Copernicus, Edelman, Newton, and Hayek all rethought the very fundamentals of their sciences, from the problems and explanatory strategies of their disciplines, to the logical status and conceptual role of the elements of their activities. Yet among these, only Hayek is attacked by professors for being a ...