Economics Roundtable

Technical Problems 3/9/15

The website was down several hours today, but is back up now.


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.


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Carpe Diem - AEI (Mark J. Perry)


July 3, 2015, 11:33 am, 1501189

It doesn’t get any better than this – Ray Charles singing America the Beautiful in 1999 in the video above. Except maybe the 1991 version below with some guests including Stevie Wonder, Michael McDonald and Michael Bolton, and the duet version ...


July 3, 2015, 11:33 am, 1501190

Writing in the Wall Street Journal on July 2, 2011, Walter Russell Mead shared an optimistic message that “The Future Still Belongs to America,” here’s an excerpt (emphasis added):

It is, the pundits keep telling us, a time of American decline, of a post-American world. The 21st century will belong ...


July 2, 2015, 11:33 pm, 1500968

From Conor Friedersdorf writing in The Atlantic about federal judge Nancy Gertner, who left the bench after 17 years, and compared the damage caused by drug prohibition to the destruction of cities in World War II in a speech she gave last Sunday at the ...


July 2, 2015, 9:33 pm, 1500955

I reported yesterday that there is a gender pay gap at the White House, based on an analysis of White House salaries for 2015. That analysis revealed that the median pay for female staffers at the White House is $65,650 compared to ...


July 1, 2015, 11:33 pm, 1500354

As required by Congress since 1995, the White House delivered it annual report to Congress today listing the title and salary of every White House employee. Here’s a link to the report and it also appears below as a searchable table (you ...


July 1, 2015, 5:33 pm, 1500257

America, here’s your senseless, immoral, expensive and cruel Drug War….

1. The Department of Justice reported yesterday that a “Colombian Paramilitary Leader Was Sentenced to More Than 15 Years in Prison for International Drug Trafficking,” here are some details:

A senior paramilitary leader and one of Colombia’s most notorious drug traffickers ...


July 1, 2015, 11:33 am, 1500030

Steve Hayward pointed out recently that economist Thomas Sowell shares the same birthday as Frederic Bastiat – they were both born on June 30. To recognize Bastiat’s birthday I shared some of his quotes on CD earlier this week, and I’ll now ...


June 30, 2015, 9:33 pm, 1499674

From Reason.tv:

What now gets labeled feminism on [college] campuses,” says Northwestern University Professor Laura Kipnis, “has to do with dialing back a lot the progress women have made establishing ourselves as consenting adults.”

That was the main argument of an essay Kipnis published this past February ...


June 30, 2015, 7:33 pm, 1499652

The Energy Information Administration released monthly oil production today for April and here are some of the highlights of that report:

1. Despite low oil prices that averaged $54.45 per barrel in April, US oil production topped 9.7 million barrels per day (bpd) ...


June 30, 2015, 5:33 pm, 1499597

There is general support among the public for legislated, government-mandated minimum wages for unskilled, low-skilled, and limited-experience workers. Further, it is considered perfectly acceptable for these workers (and their supporters like labor unions) to use the coercive power of the government to enact minimum wage legislation to attain above-market wages, ...