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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Crooked Timber
"Out of the CROOKED TIMBER of humanity, no straight thing was ever made.”
I have a couple of pieces in The Guardian. The first, which came out a few days ago, points out the consistent failure of market competition and for-profit firms to deliver human services effectively and equitably. The second gives the mainstream economic analysis of the problem, in terms ...
Over the fold, some concluding comments from a chapter I’ve written about the rise and decline of neoliberalism. I’m drawing on the “three-party system” analysis I’ve put forward before, in which neoliberalism (in both ‘hard’ and ‘soft’ forms) is increasingly breaking down under pressure from tribalists on the right, ...
This week’s picture is quite an old one, of the sculpture outside the then-new Bristol Children’s Hospital which is directly adjacent to the Bristol Royal Infirmary, where I spent a good past of ...
In a recent post, I remarked on the fact that hardly any self-described climate sceptics had revised their views in response to the recent years of record-breaking global temperatures. Defending his fellow “sceptics”, commenter Cassander wrote ”
When’s the last time you changed your mind as a result of the ...