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?


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EconModel

The Economics Roundtable is sponsored by EconModel.

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


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Ludwig von Mises Institute Articles


September 1, 2014, 12:34 am, 1327290

It’s difficult to envisage a downward-sloping yield curve in an unhampered market economy since this would imply that investors are assigning a higher risk to short-term maturities than long-term maturities. But in today’s economy, an upward- or a downward-sloping yield curve reflects the ...


August 30, 2014, 12:34 am, 1326856

The simple lives of some great thinkers belie the revolutionary nature of their work.


August 30, 2014, 12:34 am, 1326855

The Flashman Papers serve not only as the enjoyable, politically-incorrect memoirs of the world’s greatest cad, but also as bowdlerization-free historical accounts including the stumbling, botched efforts of an empire that can’t leave anyone alone. ...


August 29, 2014, 12:34 am, 1326347

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, 12:34 am, 1326346

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 gold) is based on a subjective judgment ...


August 28, 2014, 2:34 pm, 1326069

Get full access to all of these courses, including hours of lectures in both video and audio, linked syllabi of online readings, and more.


August 28, 2014, 12:34 am, 1325663

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


August 28, 2014, 12:34 am, 1325662

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 27, 2014, 12:34 am, 1325098

The Fed and it’s friends blamed cold weather for much of the year’s lackluster economic growth. But cold weather does not explain the economic slowdown because cold weather does not stop economic activity, it merely shifts it to other activities and products.


August 26, 2014, 12:34 am, 1324403

Supporters of government interventions like minimum wages often pretend the economy is far less complex than it really is, and then conjure up a statistic as evidence of success. Careful analysis reveals another story, however. ...