Economics Roundtable

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.

Finally, it's hard to argue against the payroll employment graph below (straight from FRED) and the comparison across recessions (courtesy of Calculated Risk).


Looking Up At 2001

In February 2001, U.S. payroll employment peaked at 132.5 million. The November 2011 figure of 131.7 million still falls 800,000 jobs short of the earlier peak.


Click on the chart for a larger version.


November Payroll Employment


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.


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Ludwig von Mises Institute Articles


February 3, 2012, 8:36 am, 948052

Judging of what we are by what we ought to be, I have persuaded myself that this body might accept this reasonable proposition. The proposition is peace. ...


February 3, 2012, 8:36 am, 948051

Political realism — as both an experiential or historical matter and a methodological one — must be at the center of a thoroughgoing libertarian project, informing our criticisms and proposed solutions. It can furnish the fresh approach to social questions people around the ...


February 2, 2012, 8:36 am, 947849

Mises was an astute observer and thinker who remained true to his principles.


February 2, 2012, 8:36 am, 947848

Advocates for ever-more redistribution rely on seriously incomplete and misleading measures. Furthermore, wealth creation in a market economy benefits others. To the extent that such differences arise from the voluntary exchanges of the market, everybody benefits, whether incomplete data reflects it or not.


February 1, 2012, 8:36 am, 947621

Inflation targeting is not only defective in guaranteeing monetary stability; it was instrumental in bringing about the current financial crisis. The episode that was praised as the great moderation was a great delusion, which has become the nightmare of a long stagnation. There ...


February 1, 2012, 6:36 am, 947602

Writing in the Wall Street Journal Europe, Hans-Hermann Hoppe says Goethe favored small city-states with an integrated and free market between them.


January 31, 2012, 8:36 am, 947371

One of the unhappy casualties of World War I, it seems, was the old-fashioned treatise on economic "principles."


January 31, 2012, 8:36 am, 947370

It is not just rockets and bombs that are fired; war is raged on the economic front, with currency manipulation as the primary weapon. It is this brutal economic warfare that is the subject of James Rickards's outstanding new book, Currency Wars: The ...


January 30, 2012, 8:36 am, 947165

The concept of the perfect system of government is fallacious and self-contradictory.


January 30, 2012, 8:36 am, 947164

Democracy of the unlimited kind lauded today is a form of socialism, in the sense that it arrogates ultimate power over all decisions to the government. Implicit in the notion of people's present love affair with mob rule is the assumption that government ...