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.


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 .


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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.


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Carpe Diem - AEI (Mark J. Perry)


May 27, 2016, 9:33 pm, 1640572


1. Chart of the Day I (above), of what has to be the Greatest and Single-Most Remarkable Achievement in Human History – the significant reduction of ...


May 26, 2016, 7:33 pm, 1640258

We know from basic economics that capital and labor are substitutes in the production process, and the more expensive labor is, the more incentive there is for firms ...


May 25, 2016, 1:33 pm, 1639775

The computer package displayed above (computer, monitor, keyboard and printer) sold at Best Buy in 1994 for $1,998, as featured in its weekly flyer and ...


May 24, 2016, 11:33 am, 1639364

…. is from Thomas Sowell’s latest column “Commencement Season“:

Two themes seem to dominate Commencement speeches. One is shameless self-advertising by people in government, or in related organizations supported by the taxpayers or donors, saying how nobler it is to be in “public service” than working in business or other ...


May 23, 2016, 3:33 pm, 1639094

The AFL-CIO released its annual report on CEO pay last week (see details here and here), and has calculated a CEO-to-worker-pay ratio of 335-to-1 for 2015, based on ...


May 21, 2016, 5:33 pm, 1638648

…. is from Edward Whelan, writing in the May 23 issue of National Review (my emphasis):

In other words, it is the advocates of transgender access to bathrooms and showers who, under the guise of their nondiscrimination rhetoric, are in fact ...


May 21, 2016, 11:33 am, 1638611

This post was inspired by this quotation below from Murray Rothbard (from his 1988 article “Outlawing Jobs: The Minimum Wage” featured on CD here in 2013), which made ...


May 20, 2016, 7:33 pm, 1638547


1. Chart of the Day (above). The retail price for a gallon of whole milk fell to $3.15 in April, which is the lowest inflation-adjusted price (in ...


May 19, 2016, 9:33 pm, 1638257

Christopher Ingraham wrote this on the WaPo’s Wonkblog last November 23 in his article “Law enforcement took more stuff from people than burglars did last year“:

Here’s ...


May 19, 2016, 7:33 pm, 1638232

Here’s an email I received today from a CD regular who lives in the DC area:

I thought you might be interested in a tiny little story how Revolution Cycles ...