Economics Roundtable

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 .

Click on the image to get a bigger version.

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.


The Economics Roundtable is sponsored by EconModel.

The Classic Economic Models cover micro, macro, and financial markets.

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- Recent Entries

July 1, 2016, 6:04 pm, 1650311
That is the question Jean Pisani-Ferry asks at Project Syndicate. In the wake of the Brexit vote there is a veritable chorus of experts and economists asking the same question. One explanation I don’t expect to see very often is that the supposed experts systematically ignore their own critical literature. Hubris. ...

July 1, 2016, 6:04 pm, 1650310
A miner borrows $100 for digging equipment. The bank loans him the money. He buys the equipment. He goes into the mountains, digs and brings back a chunk of gold worth $10,000. He sells the chunk of gold to a jewelry maker. How might the variables in this equation be ...

July 1, 2016, 5:33 pm, 1650306

July 1, 2016, 5:23 pm, 1650305
Okay, so Brexit may not be the biggest money demand shock since 2008. Global equity markets, as noted by Kelly Evans, have regained much of their losses since the Brexit vote. Also, the initial surge in the trade-weighted dollar that had me worried appears to have ...

July 1, 2016, 5:03 pm, 1650282
The economic news of the week will focus on jobs. Look for June's critical employment report on Friday to show whether May's hiring slowdown was a blip or the start of something uglier. Minutes from the latest Fed meeting will also indicate how central bankers looked at the weak jobs ...

July 1, 2016, 5:03 pm, 1650281

Here’s the good news After getting short shrift for years after the recession, families in the bottom 99% of earners finally saw some noticeable income growth in 2015. Even adjusted for inflation, average incomes across that huge swath of households grew 4.7% from 2014.

But don’t break out the champagne (or ...

July 1, 2016, 4:34 pm, 1650280
A A Tags War and Foreign PolicyWorld HistoryHome | Feed | Blog.rssThe First Day of the Somme

July 1, 2016, 4:34 pm, 1650279
A A Home | Feed | Blog.rssPaul Gottfried on Fascism

July 1, 2016, 4:04 pm, 1650278
A detailed update follows the original post. ____ Is the window closing on Bernie Sanders’s moment? A number of folks, your humble blogger included, have suggested as much. We’ve argued that with Democrats seeming to unite behind Hillary Clinton, it’s possible that the longer Sanders withholds his endorsement for her ...

July 1, 2016, 3:33 pm, 1650275

Happy 4th of July Weekend everyone. Stay safe and for craps sake read a history book:

July 1, 2016, 3:03 pm, 1650246
Based on a preliminary estimate from WardsAuto, light vehicle sales were at a16.62 million SAAR in June.

That is down about 2% from June 2015, and down 4% from the 17.39 million annual sales rate last month.

July 1, 2016, 2:44 pm, 1650245

July 1, 2016, 2:44 pm, 1650244

July 1, 2016, 2:44 pm, 1650243

July 1, 2016, 2:05 pm, 1650239

The British public wants the right to work in the EU but they don’t want EU citizens to have the right to work in the UK.

This was from a poll ...

July 1, 2016, 2:05 pm, 1650238

The activities of victims at the time of attack in the Florida cases were distributed as follows: 17.4 percent were related to trying to capture/pick up/exhibit the animal; 16.7 percent involved swimming; 9.9 percent involved fishing; 9.5 percent related to retrieving golf balls; and 5.3 percent involved wading/walking in ...

July 1, 2016, 1:03 pm, 1650206

One of the most important provisions in the new House GOP tax plan is the disallowance of the business deduction for net interest expense. While this is not the sort of tax provision that most individuals handle on a day-to-day business, it is important for the way businesses ...

July 1, 2016, 1:03 pm, 1650205

On July 1, 14 U.S. cities, states and counties, plus the District of Columbia, will raise their minimum wage in a mid-year burst that reflects the legislative momentum to boost pay floors across the country while federal legislation stalls.

In total, the minimum wage will rise in 15 places: two states ...

July 1, 2016, 1:03 pm, 1650204

Emmanuel Saez:

U.S. top one percent of income earners hit new high in 2015 amid strong economic growth: The top 1 percent income earners in the United States hit a new high last year, according to the latest data from the U.S. Internal Revenue Service. ... The latest IRS ...

July 1, 2016, 1:03 pm, 1650203

Kevin O'Rourke:

Markets and states are complements: The main point of my 1999 book with Jeff Williamson was that globalisation produces both winners and losers, and that this can lead to an anti-globalisation backlash. ...

What was missing from all this was an analysis of what, if anything, ...

July 1, 2016, 1:03 pm, 1650202
Earlier today, the Census Bureau reported that overall construction spending decreased 0.8% in May compared to April:

The U.S. Census Bureau of the Department of Commerce announced today that construction spending during May 2016 was estimated at a seasonally adjusted annual rate of $1,143.3 billion, 0.8 percent below the ...

July 1, 2016, 12:44 pm, 1650201

July 1, 2016, 12:34 pm, 1650200
Tags A A Home | Feed | Blog.rssThe FedFinancial MarketsMoney and BankingThornton Corrects Fed in the Wall Street Journal ...

July 1, 2016, 12:34 pm, 1650199
A A Home | Feed | Blog.rssHelp Publish The Mises Reader 0 Views

July 1, 2016, 12:05 pm, 1650198

Chinese Taylor Swift fans hoping to hedge their heartbreak by insuring against the downturns in the pop star’s love life are now out of luck.

Taobao, China’s largest online marketplace, has cracked down on vendors who were offering “insurance policies” on Swift’s reported relationship with British actor Tom Hiddleston.

The ...

July 1, 2016, 12:05 pm, 1650197

July 1, 2016, 12:04 pm, 1650196

July 1, 2016, 11:33 am, 1650192

Shannon Wulf Tregar at RFF:

Several states along the East Coast are proposing pilot programs to help pay for increasing transportation costs. Specifically, they suggest charging drivers fees per miles traveled, instead of imposing a gasoline tax (as is often done at state and federal levels). Although one poll ...

July 1, 2016, 11:03 am, 1650160

Today is July 1, the date in 1943 when federal income tax withholding first began, with taxpayers (or their employers) paying regularly throughout the year rather than paying their annual tax bill in one lump sum. To help pay for World War II, the income tax had recently ...

July 1, 2016, 11:03 am, 1650159

The history of taxation in the United States is a tumultuous one. Since our country’s founding, we have witnessed marginal tax rates on income ranging from zero to 94 percent, and federal revenues taking up less than 5 percent of our economy to more than 20 percent. With presidential ...

July 1, 2016, 11:03 am, 1650158

States tax real property in a variety of ways: some impose a rate or a millage—the amount of tax per thousand dollars of value—on the fair market value of the property, while others impose it on some percentage (the assessment ratio) of the market value, yielding an assessed value.

July 1, 2016, 11:03 am, 1650157
The ISM manufacturing index indicated expansion for the fourth consecutive month in June, following five months of contraction. The PMI was at 53.2% in June, up from 51.3% in May. The employment index was at 50.4%, up from 49.2% in May, and the new orders index was at 57.0%, ...

July 1, 2016, 10:44 am, 1650156

July 1, 2016, 10:44 am, 1650155

July 1, 2016, 10:34 am, 1650154
Tags A A Home | Feed | Blog.rssEducationInterventionismThe Lesson Revisited 0 ...

July 1, 2016, 9:33 am, 1650147

From the Washington Post:

In a letter dated Tuesday, 31 leading U.S. scientific organizations sent members of Congress a no-nonsense message that human-caused climate change is real, poses risks to society and is backed by overwhelming evidence.

“Observations throughout the world make it clear that climate change is occurring, and rigorous ...

July 1, 2016, 8:04 am, 1650116
(Don Boudreaux)

… is from page 110 of Matt Ridley’s superb 2015 book, The Evolution of Everything:

[T]oday few people appreciate ...

July 1, 2016, 7:34 am, 1650111

So many suspects, so hard to tell.

July 1, 2016, 7:34 am, 1650110

A bit of what made Dave's show one of a kind.

July 1, 2016, 7:34 am, 1650109

July 1, 2016, 7:23 am, 1650108
‘When we stop admiring how much the pie has grown, we start fighting each other for a larger slice’

July 1, 2016, 7:23 am, 1650107

The EU has many achievements of which it can rightly claim.

Long period of peace and prosperity, unrivalled in European history. Secured transition to democracy for countries such as Spain and post-Communist countries in Eastern Europe Free trade and free movement  has helped improve economic growth and living standards. Working on European wide problems, ...

July 1, 2016, 7:03 am, 1650090

A record number of Americans are expected to hit the road this Independence Day weekend, highlighting the cheap gasoline and cautious optimism that are helping support consumer spending.

AAA expects 42.9 million people will travel at least 50 miles from home during the five-day span from Thursday through Monday, July 4, the most ...

July 1, 2016, 6:04 am, 1650087

As we celebrate Independence Day, how patriotic do people think Hillary Clinton and Donald Trump are? In the June 2016 Fox News survey of registered voters, 60 percent said “patriotic” describes Hillary Clinton and about the same percentage (63 percent) said that word describes Donald Trump. In the list of ...

July 1, 2016, 6:04 am, 1650088

This morning, while Americans slept, Michael Gove, who campaigned side by side with Boris Johnson led the successful campaign for Brexit, announced that he was not, as expected, supporting Johnson for Conservative party leader and therefore prime minister, but was running himself.

July 1, 2016, 6:04 am, 1650084

So, is it actually desirable that the US run a large trade surplus, as some American politicians suggest? Should this be a goal of US economic policy?

I asked some of my AEI colleagues for their quick takes.


Desmond Lachman:

The ...

July 1, 2016, 6:04 am, 1650085

Since the Brexit vote, critics of the result have leveled multiple criticisms at the Leave campaign, including the notion that the argument sold to the British people is not what the British people are going to get, and on two fronts: first, the immigration issue; and second, the economic issue.

I’ll ...

July 1, 2016, 6:04 am, 1650083

At a time that the theater is burning, it is generally not a good idea for the head of the Fire Department to not only shout “Fire!” but also to say that he intends to fan the flames when the fire gets worse. Yet that is precisely what Bank of ...

July 1, 2016, 6:04 am, 1650086

On this episode of AEI’s Idea Makers podcast, our guest is Tom Stephenson, a long-time partner of Sequoia Capital, a Silicon Valley based venture capital firm. He also spent 22 years at Fidelity ...

July 1, 2016, 6:04 am, 1650079

Two of my all-time most favorite economists — Thomas Sowell and Frederic Bastiat – share the same birthday — they were both born on June 30. To recognize Bastiat’s birthday today ...

July 1, 2016, 6:04 am, 1650082

We know now that the suicide bombers who attacked the Ataturk Airport in Istanbul on Tuesday, killing 43 people and injuring at least 239, came from Russia and the former Soviet Union.

This should not come as a surprise. What I have called the “Russian jihad” (see here and

July 1, 2016, 6:04 am, 1650080

Read the PDF

As Independence Day approaches, this AEI Public Opinion Study focuses on patriotism in the United States, examining Americans’ self-professed patriotism, how people describe others’ patriotism, and reasons people are proud of the US. This study also looks at how patriotism in the United States compares to patriotism ...

July 1, 2016, 6:04 am, 1650081

Melony Armstrong joins the show to discuss her efforts fighting back against occupational licensing requirements in her home state of Mississippi. Melony’s dream was to open her own hair braiding salon in her hometown of Tupelo, Mississippi. When she wanted to train others how to braid hair also she discovered ...

July 1, 2016, 5:23 am, 1650075

Negative bond yields (e.g. -0.04% on 2 year gilt) mean that those who hold the bond to maturity will receive less than the value of the bond.

A negative bond yield is usually very rare. In normal circumstances, investors require some yield (interest) to give an incentive to buy government bond. ...

July 1, 2016, 5:03 am, 1650054

According to the U.S. Census Bureau, the U.S. imported over $311.7 million of fireworks from China in 2015, accounting for nearly 96% of all the fireworks the nation imported that year.

Computer chipmaker Intel has a different idea for how to light ...

July 1, 2016, 5:03 am, 1650053

July 1, 2016, 4:05 am, 1650052

We heard about a lawyer who focuses on cases about malfunctioning automatic garage door openers.

Here is the story and link, via Samir Varma.

The post The division of labor is limited by the extent of the market, installment #1437 appeared first on

July 1, 2016, 2:05 am, 1650034

That question came up briefly in my chat with Cass Sunstein, though we didn’t get much of a chance to address it.  In the Star Trek world there is virtual reality, personal replicators, powerful weapons, and, it seems, a very high standard of living for most of ...

July 1, 2016, 2:05 am, 1650033

July 1, 2016, 2:04 am, 1650032
(July 1, 2016 12:23 AM, by David Henderson) I'm at my cottage in Canada, where I've come every summer since I was 7 months old except for 5 interspersed years in the 1970s, 1980s, and early 1990s, when other things were going on in my life. It's Canada... (0 ...

July 1, 2016, 12:44 am, 1650025

July 1, 2016, 12:34 am, 1650024
Tags A A Home | Feed | Blog.rssThe FedMoney and BanksMoney and BankingLet’s Ditch the Fed for the Right Reasons

June 30, 2016, 11:33 pm, 1650023

Two of my all-time most favorite economists — Thomas Sowell and Frederic Bastiat – share the same birthday — they were both born on June 30. To recognize Bastiat’s birthday today ...

June 30, 2016, 11:03 pm, 1650014
From Paul Krugman: The Macroeconomics of Brexit: Motivated Reasoning?. From the intro:

I believe that Brexit is a tragic development, which will do substantial long-run economic harm. But what we’re hearing overwhelmingly from economists is the claim that it will also have severe short-run adverse impacts. And ...

June 30, 2016, 8:04 pm, 1650000
It was twenty years ago today…

June 30, 2016, 6:44 pm, 1649986
Donald Trump on Thursday said his trade proposals would mean better jobs for American workers and higher prices for U.S. consumers.

June 30, 2016, 6:44 pm, 1649985

June 30, 2016, 6:04 pm, 1649975
(Don Boudreaux)

Steve Landsburg weighs in with two more posts on fallacies about trade.  Here, and here.

Shikha Dalmia ...

June 30, 2016, 5:03 pm, 1649942

Tax systems initially built to protect women and low-income spouses can actually incentivize women to exit the workforce, or devalue their labor. This can be seen in Japan, where a spousal deduction leads to a phenomenon that some refer to as the “Wall of 1.03 Million Yen.”

The “Wall of ...

June 30, 2016, 5:03 pm, 1649941

The United States has fallen to 19th place in a global ranking of well-being, down three spots from last year. That’s according to the 2016 edition of the Social Progress Index, one of the most comprehensive international measures of well-being.

America was eclipsed by Belgium, Spain and France in the ...

June 30, 2016, 5:03 pm, 1649940
Here is a minor indicator I follow from the National Restaurant Association: RPI drops in May

Due in large part to softer same-store sales and customer traffic results, the National Restaurant Association’s Restaurant Performance Index (RPI) declined in May. The RPI stood at 100.6 in May, down 0.9 ...

June 30, 2016, 4:44 pm, 1649939

This week, EconTalk host Russ Roberts welcomed back New York University's Richard Epstein. The focal point of their conversation was a recent New York Times article by Nathan Schwartz , describing a "money-based caste system" in the travel industry. Does tiered service such as that Schwartz describes make ...

June 30, 2016, 4:34 pm, 1649938
A A Tags Home | Feed | Blog.rssTaxes and SpendingU.S. HistoryMoney and BankingThe End Game Of Bubble Finance: Political Revolt ...

June 30, 2016, 4:34 pm, 1649937

June 30, 2016, 4:04 pm, 1649931
by Dale Coberly SOCIAL SECURITY TRUSTEES REPORT An Overview of the Overview The 2016 Trustees Report  didn’t have much new to say, so the usual commentators were free to say what they have always said, which is mostly wrong. A careful reading of just the Overview (p 2 to ...

June 30, 2016, 3:33 pm, 1649927

From Science:

Since it was discovered in 1985, the Antarctic ozone hole has been a potent symbol of humankind’s ability to cause unintended environmental harm. But now comes a glimmer of good news: The void in the ozone layer is shrinking. “It’s a big surprise,” says Susan Solomon, an atmospheric chemist ...

June 30, 2016, 3:33 pm, 1649926

June 30, 2016, 2:34 pm, 1649895
A A Tags Taxes and SpendingU.S. EconomyU.S. HistoryHome | Feed | Blog.rssBrexit Shows Why the US Income Tax Is So Bad

June 30, 2016, 2:05 pm, 1649890

June 30, 2016, 2:05 pm, 1649889

The author is Benjamin Grob-Fitzgibbon and the subtitle is Britain and Europe from the End of Empire to the rise of Euroscepticism.  It is maybe the best book to read on Britain’s earlier relations with the European Union.  Here is one bit:

The vast majority of the Labour ...

June 30, 2016, 1:03 pm, 1649853

Nick Bunker:

The continued rigidity of wages in the United States: “Wage rigidity” is an important feature of many models of the macroeconomy...

Some research on wage rigidity challenges this assumption. Pointing to data on individual wage growth, some economists argue that the wages of new ...

June 30, 2016, 1:03 pm, 1649852

Ben Bernanke at Brookings:

How do people really feel about the economy?: Political outsiders have had quite a good year in the United States (and elsewhere), and many pundits have attributed their success to voters’ profound dissatisfaction with the economy. Certainly there is plenty to be dissatisfied about, including ...

June 30, 2016, 1:03 pm, 1649851
Here is a price index for commercial real estate that I follow.

From CoStar: Composite Price Indices Resume Solid Growth Boosted By Strong Net Absorption

PRICE INDICES RESUMED SOLID GROWTH IN MAY. Both of CCRSI’s two major composite price indices advanced by more than 1% ...

June 30, 2016, 12:44 pm, 1649850

June 30, 2016, 12:04 pm, 1649849
(June 30, 2016 11:56 AM, by Scott Sumner) As I write this, Britain's FTSE100 stock index is soaring to its highest levels of the year. Admittedly, the domestic indices aren't doing that well, but they are also recovering. So what about all the gloom and doom associated with... (0 COMMENTS)

June 30, 2016, 12:04 pm, 1649848
(Don Boudreaux)

Mr. Charlie Naumov

Mr. Naumov:

Good to hear from you again.

You ask why I’m “comfortable ignoring Donald Trump’s business expertise” ...

June 30, 2016, 11:03 am, 1649816

Today is June 30, the date in 1997 when Hong Kong’s sovereignty was transferred from Britain to China. Hong Kong’s taxes today include a 15 percent salaries tax, a 16.5 percent corporate profits tax, and a 15 percent tax on rental income. There’s no value-added or sales tax, no tax on ...

June 30, 2016, 11:03 am, 1649815

The House GOP recently released a tax reform proposal (click here to see the full details). Among other changes, it would convert the current corporate income tax into what is called a “destination-based cash flow tax.” A key provision of the new business tax is that it would ...

June 30, 2016, 11:03 am, 1649814
Chicago PMI: June Chicago Business Barometer Up 7.5 Points to 56.8

The MNI Chicago Business Barometer rose 7.5 points to 56.8 in June from 49.3 in May, the highest since January 2015, led by strong gains in New Orders and Production.

June’s rebound was just enough to ...

June 30, 2016, 10:35 am, 1649813

By James Kwak

Have you heard this story before?

The first assets deemed safe were coins made of precious metals.  As a technology, coins had many problems: they could be clipped or, debased by the sovereign. They had to be assayed and weighed to determine their value in the best of ...

June 30, 2016, 10:35 am, 1649812

In a typically brilliant essay Will Davies writes:

The slogan ‘take back control’ was a piece of political genius. It worked on every level between the macroeconomic and the psychoanalytic…What was so clever about the language of the Leave campaign was that it spoke directly to ...

June 30, 2016, 10:34 am, 1649811

A few thoughts, focusing on narrow issues of macroeconomic management rather than the bigger political issues.

The U.K. has been running a sizeable current account deficit for some time now, thanks to an unusually low national savings rate. That means, on net, it has been supplying the rest of Europe ...

June 30, 2016, 10:04 am, 1649810
(June 30, 2016 09:04 AM, by Amy Willis) We all know at a general level that (K-12) schooling is legally compulsory...but might it be culturally compulsory as well? Kevin Currie-Knight, for FEE, thinks so. I'm inclined to agree, and will second his recommendation of Ivan Illich's Deschooling Society.... (0 COMMENTS)

June 30, 2016, 10:04 am, 1649809
(Don Boudreaux)

… is from pages 162-163 of the late Stanley Lebergott’s great 1984 book, The Americans: An Economic Record ...

June 30, 2016, 10:04 am, 1649808
The risk is that [Sanders] will lose his moment because some Clinton partisans already see a more centrist campaign as the best way to win over millions of middle-of-the-road voters who find Trump abhorrent. Sanders has to decide if accelerating his plans to endorse Clinton is now the best way ...

June 30, 2016, 9:35 am, 1649802

Imagine you are at an international policy conference. Someone says "Central Banks need to coordinate their monetary policies better". You nod your head wisely in agreement, along with everyone else. Because you know that what one central bank does affects not just its own economy but the economies of other ...

June 30, 2016, 9:03 am, 1649770
The DOL reported:

In the week ending June 25, the advance figure for seasonally adjusted initial claims was 268,000, an increase of 10,000 from the previous week's revised level. The previous week's level was revised down by 1,000 from 259,000 to 258,000. The 4-week moving average was 266,750, unchanged ...

June 30, 2016, 8:44 am, 1649769

June 30, 2016, 8:44 am, 1649768

June 30, 2016, 8:05 am, 1649767

Popular Science: A pilot A.I. developed by a doctoral graduate from the University of Cincinnati has shown that it can not only beat other A.I.s, but also a professional fighter pilot with decades of experience. In a series of flight combat simulations, the A.I. successfully evaded retired U.S. ...

June 30, 2016, 8:04 am, 1649766
(Don Boudreaux)

In this short video, Johan Norberg explains the environmental dangers of too many ...

June 30, 2016, 8:04 am, 1649765
(Dan here)  Quoted is a summary and link to New Deal democrat‘s post at  on the pound sterling and Brexit impacting the US economy via Marketwatch: The pound plunged early Friday as results from the U.K.’s referendum hit, but “since then the pound has gone sideways,” notes financial blogger ...

June 30, 2016, 7:34 am, 1649762

I don't know how they know what's "ideal," but in case you're interested.

June 30, 2016, 7:34 am, 1649761

"Our hot list of 20 influential NYC babies."

No, I'm not making "influential" up.

June 30, 2016, 7:34 am, 1649760

I'm not the world's biggest baseball fan, but I really enjoyed this documentary. Nicely explains, among other things, why a 100 mph fastball is so much harder to hit than a 92 mph one and why, despite the testimony of many hitters including Hank Aaron, a very fast fastball ...

June 30, 2016, 7:03 am, 1649736

Top economists are warning that the alarming uptick in mortality for middle-aged white Americans will force policymakers to rethink the U.S. social safety net.

A report released by the Brookings Institution’s Hamilton Project is the latest paper to highlight how opioids, suicide and chronic liver disease are becoming a greater ...

June 30, 2016, 6:44 am, 1649735

June 30, 2016, 5:34 am, 1649732

This could come in handy.

June 30, 2016, 5:23 am, 1649731

In this recent post we saw some of the economic and political challenges of allowing free movement of labour within an economic block, such as the EU28.

To what extent can the government / EU mitigate these negative impacts, whilst retaining free movement of labour?

1. Funding related to number of ...

June 30, 2016, 5:23 am, 1649730

After the UK’s decision to leave the EU, what economic problems will it face?

Summary of problems

Devaluation of Pound Sterling, increasing price of imported goods, such as food, oil, manufacturers and domestic inflation. Decline in capital flows as UK is seen as more risky place to invest and save. Decline in inward investment. ...

June 30, 2016, 5:03 am, 1649708

Not long ago, we built a tool to estimate the economic impact of new jobs, where we focused on what the ...

June 30, 2016, 4:05 am, 1649707

The combination of mass joblessness, wage cuts, and higher taxes means disposable household incomes have fallen even further. To make up the difference, Greeks have been eating into their savings. In 2006-2009, the personal savings rate averaged about ...

June 30, 2016, 3:03 am, 1649692

June 30, 2016, 2:05 am, 1649688

Soon I will be recording a podcast-only, no live attendance, no live video Conversations with Tyler with Michael Orthofer.  Michael runs the site Literary Saloon and is perhaps the world’s most productive book reviewer and book review blogger, with a focus on foreign fiction translated into English.  ...

June 30, 2016, 1:03 am, 1649685

For decades, workers with a four-year degree have out-earned their less-educated peers. Now, they’re also the largest share of the labor market.

That’s the finding of a new report from Georgetown University’s Center on Education and the Workforce. This year marked the first time college-educated workers, now 36% of the workforce, ...

June 30, 2016, 12:34 am, 1649684
A A Tags Home | Feed | Blog.rssThe FedGlobal EconomyMoney and BanksMoney and BankingIf the UK Economy Tanks, Don’t Blame Brexit

June 30, 2016, 12:04 am, 1649683


We describe the broad range of uncertainties faced by the developers of medical technologies. Empirically, we estimate the asset market incidence of two realizations of uncertainties we classify as ex post policy risks. The events we analyze concern the intellectual property of Myriad Genetics, Inc., an American molecular diagnostics firm. ...

June 30, 2016, 12:04 am, 1649681

The Kurdish movement for independence could have massive implications for the increasingly fragile Middle East. In a new monograph, “Kurdistan Rising: Considerations for the Kurds, Their Neighbors, and the Region,” Middle East expert Michael Rubin examines the unresolved questions that would follow an independent Kurdish state, including citizenship, political structures, ...

June 30, 2016, 12:04 am, 1649682

Holding page for Spotlight: Kurdistan Rising?

The Kurdish drive for independence has the potential to disrupt a Middle Eastern order that has lasted more than a century. And yet, the debate both in the United States and among Kurds continues to focus almost exclusively on questions of morality and justice, ...

June 30, 2016, 12:04 am, 1649679

When New York City launched its war on poverty in 2006, Mayor Michael Bloomberg began a city-wide campaign the likes of which no other city, state or the federal government had seen in decades. Through its flagship agency – the Center for Economic Opportunity (CEO) – the city launched ...

June 30, 2016, 12:04 am, 1649680

Drafts of a thoroughgoing reform of Dodd-Frank, prepared by House Financial Services Committee Chairman Jeb Hensarling, are now circulating in Washington and drawing the predictable attacks from the anti-reform caucus-otherwise known as the Progressives.

The bill, called the Choice Act, is a massive piece of work-about 500 pages-to be expected ...

June 30, 2016, 12:04 am, 1649678

The job of any national leader is first and foremost to provide security for the citizens of his or her country. Yesterday’s devastating terrorist attack on Istanbul’s main airport makes clear that President Recep Tayyip Erdoğan is not up to the task. After all, he has dominated his country for ...

June 30, 2016, 12:04 am, 1649676

The terrorist attack at Istanbul’s main airport has distracted attention from the decision by Turkey and Israel to settle their dispute that erupted after the botched Israeli raid on the Mavi Marmara, a ship operated by a Turkish (and Al Qaeda-linked) charity seeking to show support for and supply ...

June 30, 2016, 12:04 am, 1649677

Britons who voted to leave the European Union did so for all sorts of reasons: immigration fears, English nationalism, economic and cultural nostalgia, post-recession funk, and so on. But many “Leave” voters are people who think life in Britain is getting worse year after year. They are highly skeptical of ...

June 30, 2016, 12:04 am, 1649675

Cambridge professor Robert Tombs, much admired here at AEIdeas, specializes in British and French history, and the two nations’ own “special relationship.” (I highly recommend his “That Sweet Enemy: Britain and France: The History of a Love-Hate Relationship.” while Jim Pethokoukis might recommend The English and Their History.)

He ...

June 30, 2016, 12:04 am, 1649673

Americans today are economically anxious and frustrated. In an effort to address this problem, the Conservative Reform Network has developed “Room to Grow,” a series of policy proposals that aim to strengthen the American economy, expand the middle class, and create opportunity for all Americans.

Join AEI and the Conservative Reform ...

June 30, 2016, 12:04 am, 1649674

Tomorrow, June 30, marks the 215th anniversary of the birth of the great French classical liberal economist Frédéric Bastiat (born June 30, 1801) whom economist Joseph Schumpeter called the “most ...