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?


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.


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Ludwig von Mises Institute Articles


August 23, 2014, 12:34 am, 1323386

We know that state monopolies invariably provide worse and worse services for more and more money. Police services are no exception. When it comes to your local police, there is no shopping around, there is no customer service, and there is ...


August 22, 2014, 12:34 am, 1322763

Some politicians still seem to be under the impression that an economy can be successfully planned with computers and technicians as long as the right data is entered into spreadsheets. Mises and Hayek proved this idea wrong many decades ago.


August 21, 2014, 12:34 am, 1322093

Politicians and the mainstream media have a lot of faith in the ability of central banks to manipulate, manage, cajole, energize, and tame the global economy. Unfortunately, things are not so easy in actual fact. ...


August 19, 2014, 10:34 pm, 1321394

The only thing worse than floating fiat currencies is fixed exchange rates based on fiat money.


August 19, 2014, 10:34 pm, 1321393

If the apes in Dawn of the Planet of the Apes are so smart, why are they hunter-gatherers? Aren’t they smart enough to think of agriculture? They’re probably smart enough, but Austrian capital theory explains why creating a more technologically-advanced society is easier ...


August 19, 2014, 12:34 am, 1320764

The Fed and the Treasury are betting on the fact that the dollar will remain the world’s reserve currency forever, and that the US can inflate without consequences indefinitely. The international victims of the scheme, however, are looking for a way out.


August 18, 2014, 12:34 am, 1320069

The recent civil disobedience, rioting, and police brutality in Ferguson, Missouri reminds us of what happens when police states and bad economics are mixed together.


August 16, 2014, 12:34 am, 1319599

Elizabeth Warren outlined 11 Commandments of Progressivism, but her record and the nature of Progressive economics illustrates each commandment is based on coercion and the politics of serving favored groups while imposing real professional and monetary costs on everyone else.


August 15, 2014, 12:34 am, 1318919

If the payoff is high enough, universities are happy to award degrees based on political connections.


August 15, 2014, 12:34 am, 1318918

Economists often rely on the assumption of “other things equal” to construct simple economic models. This is fine. The problem arises when politicians and their allies use similar assumptions to simply ignore the complexity of the economy and unintended results of public policies ...