May 2014 Payroll Employment
After 76 months, we finally got back to the prerecession level of payroll employment.
Click on the image to get a bigger version.
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 .
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.
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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The Classic Economic Models cover micro, macro, and financial markets.
Ludwig von Mises Institute Articles
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.
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.
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 ...
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.
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 ...
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.
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.