Economics Roundtable

Technical Problems 1/21/15

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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)


March 1, 2015, 9:33 pm, 1431369

….is from French economist Frederic Bastiat:

Legal plunder [known today as “crony capitalism”] can be committed in an infinite number of ways. Thus we have an infinite number of plans for organizing it: tariffs, protection, benefits, subsidies, encouragements, progressive taxation, public schools, guaranteed jobs, guaranteed profits, minimum wages, a right ...


February 26, 2015, 9:33 pm, 1430010

1. Chart of the Day. Thanks to globalization and trade, clothing is an amazing bargain for US consumers. While consumer prices have increased more than 64% on average over the last several decades since 1993 (and average wages by 90%), the CPI for ...


February 25, 2015, 11:33 pm, 1429227

One of the most important economic messages of French economist Frederic Bastiast was this one:

Treat all economic questions from the viewpoint of the consumer, for the interests of the consumer are the interests of the human race.

Let me channel Bastiast and speak for the hundreds of millions of disorganized US ...


February 25, 2015, 9:33 pm, 1429192

Most of the discussions on income inequality, the reviled “top 1%,” and the hand-wringing about the share of income or wealth going to the “top 1%” typically assume that the top 1/5/10% and bottom 99/95/90% ...


February 24, 2015, 5:33 pm, 1428262

1. Chart of the Day. According to new data released today by the CPB Netherlands Bureau for Economic Analysis, world trade and world industrial production both reached new record high levels in December 2014. Compared to a year earlier, world trade in ...


February 23, 2015, 11:33 am, 1427275

An analysis of Senator Hillary Clinton’s official Senate expenditure reports by Washington Free Beacon reporter Brent Scher reveals that from 2002-2008, the New York Senator and champion of women’s rights, paid her female staffers significantly less on average than men working on her ...


February 22, 2015, 1:33 pm, 1426897

1. Chart of the Day I. Crude oil production in the US reached 9.28 million barrels per day during the second week of February, the highest level of domestic oil output since April 1973, almost 42 years ago. Peak what?

2. Hedge Funds. Great ...


February 21, 2015, 7:33 pm, 1426701

In a recent post, I posed the question: Rather than calling it “an increase in the minimum wage from $7.25 to $10.10 (or $15) per hour,” if we instead called it “imposing a $2.85 (or $7.25) per hour tax on employers who employ ...


February 20, 2015, 3:33 pm, 1426280

While in office, President Obama has issued at least nine presidential proclamations where he has claimed that women in America “still receive unequal pay” and as evidence points to the fact that based on unadjusted, aggregate salary data “women are paid only 77 ...


February 18, 2015, 5:33 pm, 1424753

1. Chart of the Day I. Annual oil production in North Dakota has increased five times in five years, from 80 million barrels in 2009 to 400 million barrels last year. In 2009, North Dakota oil output was less than half the amount ...