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

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Mises Economics Blog


August 31, 2014, 8:05 pm, 1327266

Most Keynesian economists do not want to admit that we are in another depression.  They find the word painful.

They find it painful because it contradicts the idea that Keynesian economic ideas have ended depressions forever. It also contradicts the idea that the massive and continuing Keynesian stimulus applied by world ...


August 29, 2014, 8:05 pm, 1326816

Jeff Deist and Andy Duncan discuss the rise of UKIP in England, and whether it represents a real populist anti-state uprising or just rightist politics. Andy skewers the strutting political class in London, and the charade of voting Labour or Conservative based on minute policy differences. They also discuss the ...


August 29, 2014, 4:05 pm, 1326746

You can’t make this stuff up. Someone at the UK Guardian named David Grimes has declared that “economic liberalism,” by which he means the ideology of laissez-faire, “clashes” with “scientific evidence.” Which scientific evidence, you might ask? Well, the unassailable scientific dogma ...


August 29, 2014, 12:05 pm, 1326615

Mises Daily Friday by Peter St. Onge:

The “Lost Decades” narrative in Japan and the US has kept the drive for more government intervention going for a long time.


August 29, 2014, 12:05 pm, 1326614

Mises Daily Friday by Joseph Salerno:

Many economics textbooks claim that a function of money is to measure the value of goods. In fact, the value an individual attaches to a given sum of money or to any kind of good (including ...


August 29, 2014, 12:05 pm, 1326613

The Johnson Center at Troy University has two Mises alums and former Fellows on the faculty: Malavika Nair and G.P. Manish. Have a look at the center’s new video:

Writes Malavika Nair: “We are getting a Masters program next fall with a focus on Austrian economics ...


August 28, 2014, 12:05 pm, 1325984

 The August Issue of The Free Market Is Now Online!

Hans-Hermann Hoppe is back with a new lecture on the social virtues of the entrepreneur this month:

What can be unambiguously stated about a capitalist’s profit or loss is this: his profit or loss ...


August 28, 2014, 10:05 am, 1325915

Mises Daily Thursday by David D’amato:

If, for good reason, we generally distrust the concentrated power wielded by coercive monopolies, we ought to avoid at all costs placing more power in the state, the ultimate embodiment of monopoly.


August 28, 2014, 10:05 am, 1325913

Eric Phillips’s Mises Daily article  on military spending from 2012 is as timely as ever: 

Military Spending and Bastiat’s “Unseen”

by Eric Phillips

[An army of] a hundred thousand men, costing the taxpayers a hundred million of money, live and bring to the purveyors ...


August 28, 2014, 10:05 am, 1325914

Mises Daily Thursday by Karen De Coster:

The nonprofit form of enterprise is indispensable to both recipient individuals and the benefactors who fund them.