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?


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Carpe Diem - AEI (Mark J. Perry)


October 21, 2014, 1:33 pm, 1354910

From a New York Times editorial on October 18 “A Rate Cap for All Consumers“:

Poor and working-class people across the country are being driven into poverty and default by deceptively packaged, usuriously priced loans. The obvious solution is a national standard for consumer lending. Both the House and ...


October 21, 2014, 11:33 am, 1354827

The chart above shows the history of market quotes for the Iowa Electronic Markets contract “2014 Senate Control Market” back to January 2013. Between January and June 2013, the odds for the Democrats to lose control of the Senate ...


October 20, 2014, 5:33 pm, 1354344

Assuming that only 12% of campus sexual assaults at OSU are reported.

Assuming that 1 in 5 women at OSU are assaulted over 4 years.

In May, I wrote a CD ...


October 20, 2014, 1:33 pm, 1354186

Over the last six months, retail gas prices in the US have fallen by 62 cents, from $3.71 per gallon in late April to $3.09 per gallon currently, according to GasBuddy.com (see blue line in chart above). That’s almost ...


October 18, 2014, 1:33 pm, 1353464

1. In the video above, Milton Friedman explains how the essential notion of a capitalist society is voluntary cooperation and voluntary exchange, and the essential notion of a socialist society is fundamentally force.

2. In the video above, learn how the ...


October 17, 2014, 3:33 pm, 1353133

It’s time for my quarterly grammar rant (see my last one in July) on what I think must be the most common grammar/spelling/punctuation mistake in the English language — the misuse of it’s (or its’) for its — illustrated by the examples below collected from CD comments and ...


October 17, 2014, 1:33 pm, 1353056

There was a lively discussion on yesterday’s post (“Law Enforcement Against Prohibition’s (LEAP) 10 Reasons to end the senseless, costly, deadly and immoral War on Drugs“), especially about the second ...


October 17, 2014, 1:33 pm, 1353055

1. Socialist hypocrisy? The Freedom Socialist Party (owner of the website domain name Socialism.com) routinely advocates that employers be forced to pay workers a minimum wage of either $15 an hour or $20 an hour. ...


October 16, 2014, 5:33 pm, 1352512

Oil drillers in North Dakota pumped out 1.13 million barrels of oil per day (bpd) in August, setting another new monthly all-time record high for the state’s crude oil production (see blue ...


October 16, 2014, 1:33 pm, 1352344

Law Enforcement Against Prohibition, (LEAP) a group of law enforcement officials opposed to the war on drugs, created a Buzzfeed list to show why the War on Drugs has been one of the most disastrous policies in American history. From mass incarceration and tremendous loss of life to billions ...