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 .

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.


The Economics Roundtable is sponsored by EconModel.

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

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Carpe Diem - AEI (Mark J. Perry)

August 31, 2014, 1:33 pm, 1327219

At his Calafia Beach Pundit blog, Scott Grannis recently posted a pretty devastating critique of Keynesian economic theory and the abject failure of Keynesian fiscal stimulus in the period following the Great Recession (“the most expensive such failure in the history of the world”), here’s an excerpt below and I ...

August 30, 2014, 5:33 pm, 1327049

It’s often a puzzle to economists why the most popular restaurants – the ones with long lines and long waits to get a table or a reservation – don’t raise their prices or charge for reservations? The Priceonomics blog addresses this apparent “economic mystery” in an article titled “Why Don’t ...

August 30, 2014, 11:33 am, 1326995

Skyrocketing health insurance premiums are pushing patients and Obamacare enrollees to The Surgery Center of Oklahoma (the “Free market-loving, price-displaying, state-of-the-art, AAAHC accredited, doctor owned, multispecialty surgical facility in central OK), explains the center’s director Dr. Keith Smith in the CNBC video above.

Dr. Smith ...

August 29, 2014, 7:33 pm, 1326814

1. Chart of the Day. Daily US oil production surged above 8.6 million barrels last week for the first time since October 1986, almost 28 years ago.

2. Map of the Day. Unpaid ...

August 29, 2014, 1:33 pm, 1326664

1. Concierge Medicine (as reported by WAAY-TV in Decatur, AL):

With the Affordable Care Act in full swing, there’s a growing trend across the nation that’s changing the way patients get treatment. And now concierge medicine is being offered at The Heartbeat Away Clinic in Decatur, ...

August 29, 2014, 1:33 pm, 1326663

….. is from Albert Jay Nock’s article “The Progressive Conversion of Social Power into State Power“:

It is unfortunately none too well understood that, just as the State has no money of its own, so it has no power of its own. All the power it has is what ...

August 26, 2014, 7:33 pm, 1325025

Following several other recent innovative additions to the services offered by the ride-sharing, taxi-alternative leader Uber (UberPool that allows customers to share a ride and split the cost, Uber for Business that allows employees who use Uber to bill their trips directly to their company and ...

August 25, 2014, 1:33 pm, 1324162

In a post titled at Business Insider (“Canada Has The Most Business-Friendly Tax Policy In The World“) Myles Udland points to a recent KMPG special tax report “Competitive Alternatives” that measures the Total Tax Index for the ten countries ...

August 25, 2014, 11:33 am, 1324084

…. is from Deidre McCloskey (via Matt Ridley):

The aim of the true Liberal should not be equality but “lifting up those below him.” It is to be achieved not by redistribution but by free trade, compulsory education and women’s rights. And so it came to pass. ...

August 25, 2014, 11:33 am, 1324083

1. A UAW worker at Ford says he will pay dues to cover core activities performed by the union (collective bargaining, contract administration and grievance processing) but he objects to the portion of union dues that supports the Democratic Party and he has filed charges seeking a partial refund. ...