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 24, 2016, 11:33 pm, 1667392

….. is from the University of Chicago’s Dean of Students John Ellison’s letter to the Class of 2020 incoming students:

Our commitment to academic freedom means that we do not support so-called ‘trigger warnings,’ we do not cancel invited speakers because their topics might prove controversial, and we do ...

August 24, 2016, 7:33 pm, 1667377

A UC-Berkeley study has just conclusively confirmed something many progressives, politicians, and the “Fight for 15 Cents” crowd have a very difficult time understanding: Demand curves do slope ...

August 24, 2016, 11:33 am, 1667227

…. is from the National Review editorial “Mrs. Clinton and Her Fixer“:

It is important to keep in mind what the Clinton Foundation mainly does: It does precious little in the way of actual philanthropy ($9 million worth out of $140 million in revenue for 2013) but instead spends ...

August 23, 2016, 11:33 pm, 1667058

Have you heard yet about the “Cajun Navy“? Here’s the group’s Facebook page.

If not, it’s “Louisiana’s 100% Volunteer Group That’s Helping Flood Victims” according the Huffington Post:

While FEMA was just gearing up, a group of people dubbed ‘The Cajun Navy’ were already navigating the floodwaters to ...

August 23, 2016, 5:33 pm, 1667006

Cities and states around the country that are considering a hike in their minimum wages to $15 an hour might want to take a look at ...

August 23, 2016, 5:33 pm, 1667005

…. is from Jason Kuznicki, writing at

The overwhelming majority of the poor in the United States enjoy technological wonders that didn’t even exist a few decades ago. Outside the free market/liberal democratic synthesis, essentially no other social system has ever delivered as much — because almost ...

August 23, 2016, 11:33 am, 1666879

….. is from Matt Ridley’s latest column “What Ever Happened to Adam Smith?” (emphasis mine):

Last week both Hillary Clinton and Donald Trump set out their economic policies in set-piece speeches. Mr. Trump’s, delivered in Detroit, so far as one could tell from the fractured syntax and the digressions ...

August 22, 2016, 3:33 pm, 1666623

1. Cartoon of the Day above (with a h/t to Jon Murphy).

2. Markets in Everything: a) Truman Capote’s ashes will be auctioned off in September, b) ...

August 22, 2016, 11:33 am, 1666530

…. is from the always-excellent Thomas Sowell, writing in 2015:

The “legacy of slavery” argument is not just an excuse for inexcusable behavior in the ghettos. In a larger sense, it is an evasion of responsibility for the disastrous consequences of the prevailing social vision of our times, and ...

August 22, 2016, 1:33 am, 1666367

The CPI for Food at ...