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


October 29, 2014, 10:34 pm, 1360295

Austerity is nothing more than allowing the private sector more control over what it produces. Those who argue against austerity are claiming that government will more wisely spend, invest, and save than private persons and firms.


October 29, 2014, 10:34 pm, 1360296

The quasi-gold standard promoted by Steve Forbes and Elizabeth Ames in their new book has more in common with the Bretton Woods system than with the classical gold standard.


October 29, 2014, 12:34 am, 1359502

Economics Nobel Prize winner Jean Tirole still clings to the old neoclassical model "perfect competition" and monopoly, in which there is no place for entrepreneurship, and which fails to grasp that consumers benefit more from a diversity of goods than a diversity of ...


October 28, 2014, 12:34 am, 1358672

Tom Woods and Mateusz Machaj discuss the problem with John Taylor's rule for monetary policy.


October 28, 2014, 12:34 am, 1358671

A recent study shows that one's political views are now the most widespread source of discrimination and conflict in American society. Politics is now more important than ever because the state is now more powerful than ever.


October 27, 2014, 12:34 am, 1358000

Contrary to the political myth, poor people do indeed pay taxes, and they pay into a system that robs them of control over how they can spend, save, or invest their own property. In addition, the poor are taxed by a perverse incentive ...


October 25, 2014, 12:34 am, 1357525

Mises Weekends: Jeff Deist and Patrick Barron address the issue of monetary imperialism.


October 25, 2014, 12:34 am, 1357524

Liberty-loving people are right to be appalled by the Patient Protection and Affordable Care Act. However, just about every evil in the legislation has already been inflicted on the market through 50 years of state destruction of the healthcare market.


October 24, 2014, 2:34 pm, 1357284

Robert Murphy explains why people trade goods, and the role of money.


October 24, 2014, 12:34 am, 1356797

Public accommodation laws that prohibit discrimination render property rights moot and create a legal system designed to force agreement with the state's official moral code.