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?
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"A blog of the NYU Colloquium on Market Institutions and Economic Processes”
by Edward Stringham
I have enjoyed workingÂ with excellent colleagues and Ph.D. students at Texas Tech University, but I am thrilled to be hired as an endowed chair at Trinity College in Hartford, Connecticut. Undergraduate students interested in private enterprise, drop everything you are doing and enroll now! ...
by Edward Stringham
As a professor, I am a fan of rigorous economic research, but I am also a fan of helping students learn about how important economics is in an engaging way. John Papola did an excellent job with the Keynes Versus Hayek music videos (especially the second one with yours ...
by Roger Koppl
Oliver Blanchard tells us â€śWhere Danger Lurksâ€ť Â in the macro-finance world.
The big theme is nonlinearity, which is a profoundly conservative move: DSGE modeling is just fine and we donâ€™t need to rethink it at all. We just need to add in some nonlinearities. Blanchard does not tell ...
by Glen Whitman
Last year in this space, I posted the Call for Abstracts for a forthcoming book called Economics of the Undead. That project is now coming to fruition! The book will officially be published tomorrow; here’s the Amazon page, and here’s the Barnes & Noble page. (The ...
By Ed Stringham
I am pleased to have been selected as the next President of the Society for the Development of Austrian Economics. Many economists including Karen Vaughn, Mario Rizzo, Peter Lewin, Steve Horwitz, andÂ Peter Boettke, have done great work and help make the society far bigger than ...
by Ed Stringham
If you are interested in earning a Ph.D., or if you know someone who is, I strongly recommend studying at Texas Tech University where I have had the pleasure to teach this past year. At the center of the action is my good friend, Benjamin ...
by Edward Stringham
We hear of high profile cases of police killings, but few look at the larger picture of how often American citizens are killed by police. What is the rate at which police kill citizens and how does that compare to other homicide rates? Although
The Association of Private Enterprise Education will hold its annual meeting in Las Vegas, Nevada, April 3rd to 5th, 2016. This yearâ€™s conference theme is Capitalism: Free-Market or Crony? Papers are welcome on that topic, as well as other topics relevant to market economies. That list certainly includes Austrian ...
by Liya Palagashvili
Earlier this summer, de Blasio attempted to cap the number of Uber and other ride-sharing drivers in New York City. Although he ended up dropping the proposal, the event itself serves as a wonderful pedagogical illustration of public choice insights. Hereâ€™s an excerpt from my op-ed on this:
By Mario Rizzo
There comes a point where the continual mandating of benefits and restrictions on hiring has big consequences. We can see the handwriting on the wall in Europe as well as in the US. In Europe the young are more and more being left out of the traditional forms ...