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?
The Economics Roundtable is sponsored by EconModel.
The Classic Economic Models cover micro, macro, and financial markets.
Taking Hayek Seriously
"The Home Of The Friedrich Hayek Scholars Page”
The work of Bruce Caldwell and others on nature and significance of Hayek’s solution to the explanatory problem of economics outlined in his 1936 paper “Economics and Knowledge” and developed thereafter has been deeply flawed because because these account grasp neither Hayek original problem situation nor the nature and ...
Friedrich Hayek’s books are written at a high level of abstraction, often with few examples, tackling topics of genuine complexity. But what he writes about can be of enormous interests, with much more left to be said or illustrated with examples from the real world. What follows are books I ...
When we get ourselves into conceptual trouble or when we find ourselves in contentious disagreement with our colleagues it serves us well to locate and articulate where the trouble spots are, and perhaps also doing a bit of reconsideration of what the project at hand is about. This is exactly ...
James Buchanan, Edward Crane, Leonard Liggio & Daniel Yergin discuss Hayek’s The Road to Serfdom