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

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Ludwig von Mises Institute Articles


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.


October 23, 2014, 12:34 am, 1355969

Tom Woods explains the “unacceptable“ opinions behind freedom and free markets.


October 23, 2014, 12:34 am, 1355968

The terms “quid pro quo” has been twisted to now include government handouts and state-mandated exchanges, so long as the value of goods trading hands are deemed to be of “equal value.” True voluntary exchange, on the other hand, is something quite different.


October 22, 2014, 12:34 am, 1355204

With 100 years having passed since the start of the First World War, the view of the war among historians and the public has evolved in many ways. Historian Hunt Tooley examines the turning points in how the world sees the Great ...


October 21, 2014, 12:34 am, 1354447

David Gordon and Jeff Deist discuss Rothbard’s life from an insider’s perspective, his relationship with Mises and the areas where they disagreed, and more.


October 21, 2014, 12:34 am, 1354446

The Fed has created a new measure of employment that it says it will use to guide monetary policy. Unfortunately, simply knowing employment trends tells us little about whether or not real wealth is being created in the economy. ...


October 19, 2014, 10:34 pm, 1353774

Efficient banks have many options for lenders and credit when banking crises hit. It's the inefficient and insolvent banks that must turn to a central bank. But do we really want central banks that reward insolvency and encourage inefficiency? ...


October 18, 2014, 2:34 am, 1353332

This weekend Tom Woods joins us to discuss his new book.


October 18, 2014, 2:34 am, 1353331

In this review of Radley Balko's Rise of the Warrior Cop Aaron Tao examines the history of government policing, rights that have been lost, and the symbiotic relationship between the police state and the war on drugs.


October 17, 2014, 12:34 am, 1352658

Once interest rates begin to rise — and rise they must, whether as a result of Fed policy or not — the end of the asset price inflation will be at hand. The result will be another financial crisis and accompanying recession.