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


November 17, 2014, 12:34 am, 1372503

The Economist recently opined that interest rates don't affect investment. This claim is based on an empirical study that contradicts what we already know: that lower prices lead to more demand. In the end, the problem lies with the researches who fail to ...


November 15, 2014, 12:34 am, 1371882

Ludwig von Mises held that middle-of-the-road policy in economic interventionism eventually leads to widespread socialism. With price controls, protectionism, and rampant inflation, Venezuela and Argentina have proven him right.


November 14, 2014, 12:34 am, 1371140

The term “anarcho-capitalism” has, we might say, rather an arresting quality. But while the term itself may jolt the newcomer, the ideas it embodies are compelling and attractive, and represent the culmination of a long development of thought.


November 13, 2014, 6:34 pm, 1370950

Since the 1950s, the United States has helped build and prop up Pakistan's socialist military corporate state.


November 13, 2014, 12:34 am, 1370297

Berlin provides us with an example that comes as close to that of a controlled social experiment as one could probably hope to get.


November 12, 2014, 12:34 am, 1369491

The state seems more powerful than ever, but the state is both economically and intellectually unsustainable. We’re already witnessing a breakdown in the state’s legitimacy and power, and we should be optimistic about seeing more of this in the future.


November 12, 2014, 12:34 am, 1369492

Many people think that tipping results from stingy employers not paying a “living wage.” But tipping solves multiple economic problems while making employers more likely to hire untried workers.


November 11, 2014, 12:34 am, 1368704

Since the 1950s, the United States has helped build and prop up Pakistan's socialist military corporate state.


November 11, 2014, 12:34 am, 1368703

War is the outcome of class conflict inherent in the political relationship — the relationship between ruler and ruled, parasite and producer, tax-consumer and taxpayer. The parasitic class makes war with purpose and deliberation in order to conceal and ratchet up their exploitation ...


November 10, 2014, 12:34 am, 1367894

Entrepreneurs need very specific information about their products, markets, customers, and profits. Government macroeconomic data, however, does nothing to assist entrepreneurs to obtain this important information, but only helps justify economic intervention.