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


August 1, 2014, 12:34 am, 1309431

Hollywood has a long history of joining forces with the US government. In recent decades a complex system of subsidies and direct assistance from various government agencies in the making of movies has helped bring the state and the entertainment industry even closer ...


July 31, 2014, 12:34 am, 1308593

Sun-Tzu believed that societies are in deep trouble when wars and other government efforts exhaust the wealth of those who pay the bills. But the lack of revolutions, even in highly-taxed societies points to the possibility that many are willing to tolerate rather ...


July 30, 2014, 12:34 am, 1307740

Argentina’s government is on the verge of default yet again. How could this happen three times in thirty years? Well, the Argentine government has a habit of spending without restraint and then trying to cheat its creditors. But this time, it's run into ...


July 29, 2014, 12:34 am, 1306929

With the failure of central planning worldwide, many economists have turned to promoting government as an innovative and entrepreneurial institution that fosters greater efficiency and economic growth. In truth, governments fail where private entrepreneurs succeed. Governments keep wasting money in the meantime.


July 28, 2014, 12:34 am, 1306230

Many Americans, perhaps a substantial majority, still believe that labor unions are fundamental to the well-being of workers. In fact, labor unions work to prevent increases in the productivity of workers, which is ultimately the only way to increase real wages.


July 26, 2014, 12:34 am, 1305856

In this interview, Mark Thornton discusses the future of the US dollar as the world's reserve currency and how both gold and silver and can be part of a return to sound money.


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, 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 ...