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


July 24, 2014, 10:34 pm, 1305138

The Navajos want to develop the southern rim of the Grand Canyon, but environmentalists are unhappy. There’s little private property involved, so don’t blame the capitalists, and it’s worth remembering that much of the tourist economy in the West is a subsidized invention ...


July 24, 2014, 12:34 am, 1304405

Only individuals can determine what is efficient for themselves, and they will only engage in voluntary exchange when they believe it is the efficient thing to do. Some economists, and most governments, prefer to use other standards of efficiency such as “potential compensation” ...


July 23, 2014, 4:34 pm, 1304129

Highlights from Day One of Mises University.


July 23, 2014, 4:34 pm, 1304128

“Progressives” throughout history repeatedly show a fondness for social engineering and state control.


July 23, 2014, 4:34 pm, 1304127

All too many of the reforms being proposed for the central bank are just more of the same central planning. Real reform of the Fed begins with setting interest rates free, the abolition of deposit insurance, and ending the Fed’s position as lender ...


July 21, 2014, 12:34 am, 1303757

Lacking any new equations, mainstream economists have resorted to timing their computers as they solve the existing ones. Meanwhile, booms and busts are brewing in the real economy. But computers that can quickly solve word problems won’t tell you much about how business ...


July 20, 2014, 8:34 pm, 1303742

Join the Mises Institute as we welcome more than 130 students from all over the world to our Auburn campus! Mises U 2014 is a full week of Austrian scholarship that can’t be found anywhere else on the planet. ...


July 20, 2014, 2:34 pm, 1303723

Join the Mises Institute as we welcome more than 130 students from all over the world to our Auburn campus! Mises U 2014 is a full week of Austrian scholarship that can’t be found anywhere else on the planet. ...


July 19, 2014, 12:34 am, 1303402

Much of the existing research on entrepreneurship focuses only on start-ups and small business. But entrepreneurship is a much broader topic and entrepreneurs appear everywhere as drivers of greater wealth and economic growth. Peter Klein and Nicolai Foss discuss new ways to study ...


July 18, 2014, 12:34 am, 1302847

Many free-market advocates approve of right-to-work laws because they diminish the power of monopolist labor unions. Right-to-work laws, however, prohibit employers from dealing with unions in whatever way the employer chooses, and thus just substitute one government mandate for another.