Economics Roundtable

May 2014 Payroll Employment

After 76 months, we finally got back to the prerecession level of payroll employment.

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 .

Click on the image to get a bigger version.

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.


The Economics Roundtable is sponsored by EconModel.

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Mises Economics Blog

October 24, 2014, 8:05 pm, 1357496

Michael Pollaro, Mark Thornton, and I went looking for some good introductory materials to help newcomers understand Austrian Business Cycle Theory.

Pollaro posted this helpful article over at Forbes, noting:

Indeed, we would say that without ABCT investors are at a competitive ...

October 24, 2014, 4:05 pm, 1357356

Mises Daily Friday by Robert Murphy:

Robert Murphy, contra Real Clear Markets and Forbes, explains why money is not like a ruler and doesn’t measure value.

October 24, 2014, 2:05 pm, 1357279

Mises Daily Thursday by Tom Woods:

Tom Woods explains the “unacceptable“ opinions behind freedom and free markets.

Check out Tom Woods’s interview about the book on Mises Weekends:

October 24, 2014, 2:05 pm, 1357278

Mises Daily Thursday by  Gary Galles:

The term “quid pro quo” has been twisted to now include government handouts and state-mandated exchanges, so long as the value of goods trading hands are deemed to be of “equal value.” True voluntary exchange, on ...

October 24, 2014, 2:05 pm, 1357277

Mises Daily Friday by Nicholas Freiling:

Public accommodation laws that prohibit discrimination render property rights moot and create a legal system designed to force agreement with the state’s official moral code.

October 24, 2014, 2:05 pm, 1357276

Jeff Deist and Patrick Barron address the issue of monetary imperialism. How does the US use the dollar as a weapon of economic and cultural power? How long can it last? What might the unprecedented collapse of a worldwide reserve currency look like? And how do the BRIC nations and ...

October 24, 2014, 10:05 am, 1357117

With the IRS scandals of early 2014 all but a distant memory, some closure is coming to the groups that the long arm of the tax law harassed. Unfortunately the verdicts aren´t going the way the affected would like.

The IRS may have inadvertently figured out how to win its ...

October 24, 2014, 10:05 am, 1357118

If you use the word “contagion” these days, people are likely to think you’re talking about ebola. Backup five years ago, and contagion was the buzzword to describe the financial crisis.

The European government bond market was falling apart, and allegedly it had nothing to do with the precarious public ...

October 23, 2014, 8:05 pm, 1356663

Back when I was an economist for a housing agency, I heard about a lot of pricey marketing gimmicks. This is a new one:

Writes Robert Wenzel:

Paging Mark Thornton: The Ultimate Sign of a Chinese Real Estate Bubble?

As part of a marketing campaign by a property developer in ...

October 23, 2014, 6:05 pm, 1356596

In his recent three-part interview (here, here and here) on the gold standard, Larry White perplexes almost as much as he enlightens.  Let’s critically review  his responses to a few of the interviewer’s questions.

First, when queried about evolution of the discussion of the gold standard among classical ...