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.


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 .


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.


EconModel

The Economics Roundtable is sponsored by EconModel.

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


RSS Feed

Ludwig von Mises Institute Articles


September 18, 2014, 12:34 am, 1336874

Many modern states are little more than groupings of conquered nations. Breaking them up into smaller pieces is all for the best, and this would also ultimately lead to more free trade among nations since smaller states find it more difficult to sow ...


September 17, 2014, 12:34 am, 1336182

In this transcript of his Mises Weekends interview with Jeff Deist, Andy Duncan handicaps the upcoming secession vote in Scotland and discusses the state of free-market thinking in the UK.


September 17, 2014, 12:34 am, 1336181

There is no one Taylor Rule, but several, depending on how one interprets the government's measurements of the economy. Taylor's rule also fails to address the fundamental problem of coordinating the actions of many diverse individuals in an economy, so it cannot protect ...


September 16, 2014, 12:34 am, 1335483

The NCAA, a quasi-governmental regulatory cartel, prohibits colleges from paying athletes. So colleges employ a variety of schemes to offer unofficial “pay.” Meanwhile, the NCAA ensures there is no functioning job market for athletes at that level, and no competition to which students ...


September 15, 2014, 12:35 am, 1334817

The work of economist Anders Chydenius, which predates Smith’s The Wealth of Nations, provided a radically free-market voice for Scandinavia in the 18th century as Chydenius battled against mercantilists and those who thought government well-suited to plan economies with laws and edicts.


September 13, 2014, 12:34 am, 1334276

In a free market, entrepreneurs profit by providing something of value that people will voluntarily purchase. In a state-controlled market, however, profit through government draws many away from the voluntary exchange of the marketplace to the violence of government-enforced redistribution.


September 13, 2014, 12:34 am, 1334277

Jeff Deist and David Howden discuss the history of banking in America before 1913, and why American economists all seem to be in thrall to the Fed. ...


September 12, 2014, 12:34 am, 1333625

Government management of the trucking industry has raising prices for both consumers and producers who depend on trucking.


September 12, 2014, 12:34 am, 1333624

Some opponents of Scottish secession (and most other secession movements) claim that places like Scotland and Quebec are "too small" to be independent countries. A look at small countries vs. large countries, however, suggests that small countries often perform better economically.


September 11, 2014, 12:34 am, 1332950

Randall Holcombe talks about his new textbook on Austrian economics: “The idea was to write a book for people who already know some economics,” Holcombe says. “But even a student who has only taken an introductory economics course will have enough background to ...