Economics Roundtable

May 2014 Payroll Employment

After 76 months, we finally got back to the prerecession level of payroll employment.

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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.


EconModel

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 21, 2014, 11:33 am, 1322422

The website Roost is a new marketplace that connects people who have extra space to neighbors who need storage or parking. Hosts can earn extra income by renting out parking spaces or the unused storage space in their garage or attics, and renters can f


August 21, 2014, 11:33 am, 1322423

…. is from Liya Palagashvili and Rachel Mace writing in today’s WSJ:

When you raise the cost of hiring, companies will do less of it. Until there’s a sound theory for why raising the price of low-skill labor doesn’t lessen employers demand for it, and until that theory is ...


August 20, 2014, 7:33 pm, 1322012

Here’s a shortened version of Daniel Bier’s excellent article in The Freeman, “By the Numbers: How Dangerous Is It to Be a Cop?”:

Defenders of police militarization such as that on display in Ferguson, Missouri, often claim that ...


August 20, 2014, 7:33 pm, 1322011

There’s a pretty interesting and stark contrast between two completely different approaches to saving wildlife in Africa (rhinos, elephants, lions, leopards and African buffaloes, etc.): a) ban the private ownership and all commercialization of wildlife except for eco-tourism vs. b) allow the private ownership of wildlife and legalize commercial activities ...


August 20, 2014, 5:33 pm, 1321963

From Reason.tv:

Hairbraider Melony Armstrong just wanted to earn an honest living. Armstrong had learned how to braid hair from an renowned expert in Atlanta, and she had the drive to open her own salon in Tupelo, Mississippi. What she didn’t have was a ...


August 20, 2014, 11:33 am, 1321735

Some interesting facts……..

1. Overall, 57% of Americans think only winning players should receive trophies, while 40% say all kids on a sport team should receive a trophy according to a recent Reason-Rupe poll. By political affiliation, 66% of Republicans want only the kids who win to receive trophies, while ...


August 18, 2014, 9:33 pm, 1320728

David Friedman explains in a post titled “Why Improving Things is Hard“:

There are good economic arguments to show that we would be better off if we went to complete free trade. That seems puzzling—if we would be, why don’t we?

The answer is provided by public choice theory, ...


August 18, 2014, 7:33 pm, 1320695

1. Chart of the Day: Increase in college textbook prices since January 2008 (150%) compared to the overall increase in consumer prices (+47%) and the increase in the price of recreational books (almost 0%). How long can this “textbook ...


August 18, 2014, 5:33 pm, 1320619

What do the companies in these three groups have in common?

Group A: American Motors, Brown Shoe, Studebaker, Collins Radio, Detroit Steel, Zenith Electronics, and National Sugar Refining.

Group B: Boeing, Campbell Soup, General Motors, Kellogg, Proctor and Gamble, Deere, IBM and Whirlpool.

Group C: Facebook, eBay, Home Depot, Microsoft, Office Depot and ...


August 18, 2014, 11:33 am, 1320383

Some people, especially libertarians, didn’t like the Pew Research “Political Typology Quiz” featured yesterday on CD. Here’s a link to the World’s Smallest Political Quiz, featured before on CD, that better accommodates the libertarian political philosophy.