Economics Roundtable

Database Maintenance 7/4/15

Routine database maintenance will induce some duplicated items for the next day or two.

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.

The Classic Economic Models cover micro, macro, and financial markets.

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Newmark’s Door (Craig Newmark)

August 4, 2015, 7:33 am, 1521527

Brian Yablonski, adjunct fellow of PERC:

Western orthodoxy suggests the white man’s irresistible drive for wealth led to the bison genocide. Reality, however, proved more complicated. Their near extinction was due to a host of factors ranging from adverse climate issues, introduction of the transcontinental ...

August 4, 2015, 7:33 am, 1521528

Yes, indeed, unless significant changes are made, you'll be entitled to wonderful health care benefits, but you just won't be able to get them. (Kinda like how rent control makes apartments "affordable" but . . . unobtainable.)

Related: "Absent Strong Action, Medicare Goes the Way of Greece".

August 4, 2015, 7:33 am, 1521525

It's enough to break an irony meter: virtually all the scapegoats of the Chapel Hill scandal--Chapel Hill, as proudly progressive a school as you'll find--are, or will be, minorities and women.

Related: a graphic presentation of some of the data, "Analysis of Student Athlete involvement in the ...

August 4, 2015, 7:33 am, 1521526

Alex Tabarrok elegantly refutes the attack on the "gig economy".

Some restaurants offer burgers without fries and a drink. These restaurants cater to low-income people who enjoy fries and drinks but can’t always afford them. To rectify this sad situation a presidential candidate proposesThe Happy Meal Act. ...

August 4, 2015, 7:33 am, 1521524

By an AP reporter, reprinted in the Washington Post, no less.

It’s getting more expensive to be an employer and small business owners say that’s making it harder for them to make money.

The health care law, minimum wage increases and paid sick leave laws in ...

August 3, 2015, 7:33 am, 1520779

As often is the case, causality is in doubt here. But it's still either a bit funny or a bit disturbing, you decide.

August 3, 2015, 7:33 am, 1520778

Scott Sumner:

Here's the obvious solution. Privatize the DMV by letting competing companies provide this service, and compensate them per customer at the current spending level of the government service. Since the private sector is far more efficient than the public sector, they can do this at ...

August 3, 2015, 7:33 am, 1520776

Chester Finn and Bruno Manno thoughtfully and self-critically examine the state of play for one of the most important changes in public education in the last 50 years.. Bottom line:

There's reason for hope. This movement is still basically bipartisan — a rarity in today's polarized policy world. Most ...

August 3, 2015, 7:33 am, 1520775

The article's subhead is "The city’s devastating affordability crisis has an unlikely villain—its famed progressive politics."

That needs an adaptation of an old joke: "What's unlikely, Kimo Sabe?"

Related: "How Burrowing Owls Lead To Vomiting Anarchists (Or SF’s Housing Crisis Explained)". It's long and complicated, but part of ...

August 3, 2015, 7:33 am, 1520777

Video of a debate about possible rent control in Seattle. Co-starring for the pro-control side is a holder of an economics Ph.D. from N.C. State (don't blame me, I had nothing to do with it).

After listening to her and remembering how futilely I fought against the economic dopiness ...