September Payroll Employment
We are still 1% off the previous peak in jobs.
Click on the image to get a bigger version.
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 .
Focus on the Problem
U.S. payroll employment peaked at 132.5 million jobs in February 2001. For April 2012, U.S. payroll employment had reached 133.0 million jobs, marking the third month in a row above the February 2001 level.
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.
Looking Up At 2001
In February 2001, U.S. payroll employment peaked at 132.5 million. The November 2011 figure of 131.7 million still falls 800,000 jobs short of the earlier peak.
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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Mises Economics Blog
The State Causes the Poverty It Later Claims to Solve by Andreas Marquant
Guardians of the Warfare State by T. Hunt Tooley
The Fed Turns 100: A Survey of the Critics by Gregory Bresiger
Why I Am an Anarcho-Capitalist by Lew Rockwell
Why Is Not-Pot Illegal Too? by Mark Thornton
Ron Paul and Lew Rockwell discuss Ludwig von Mises, the Mises Institute, Leonard Read, Murray Rothbard, the Austrian School and the state of the freedom movement:
Rothbard’s arguments against trade sanctions explored in this article are of course applicable to Syria, Cuba, Iran, and elsewhere. Sanctions imposed in the name of reform and regime change hurt the general population in the targeted country, and often are felt ...
Mises.org scores #1 website in Austrian Economics and our Circle Bastiat blog came in at #12 on the list of the top 40 at Commodity HQ. Keep up the good work!
Excerpted from Lecture 3 of Robert Murphy’s “Basics of Economics: Action and Exchange”, which is available as an independent study course. Sign up for Dr. Murphy’s “Basics of Economics: An Introduction to the Free Market”, which starts in January 2014.
That’s the title of my latest LewRockwell.com article about the form of socialistic interventionism known as “apartheid” and Nelson Mandella’s role in opposing it.
The Austrian Economics Research Conference is the international, interdisciplinary meeting of the Austrian School, bringing together leading scholars doing research in this vibrant and influential intellectual tradition. The conference is hosted by the Mises Institute at its campus in Auburn, Alabama.
We have a ...
Nelson Mandela, public face of the anti-Apartheid movement and South Africa’s first post-Apartheid president, has died. Much will be written about Mandela in the coming days, but little of it will deal directly with the Apartheid system, particularly its economic aspects. Apartheid is widely misunderstood as a system based purely ...
That’s the title of a new working paper by Per Bylund and me. It’s forthcoming in a special issue of the Review of Austrian Economics devoted to the contributions of Israel Kirzner.
Peter G. Klein and Per L. Bylund
December 5, 2013
It is important for our system of payments to improve over time and this means that we need experiments like Bitcoin to take place. Ron Paul says that if Bitcoin is successful then the government will crush it. Now there is a problem.