What Is Capitalism? (with Mike Munger)
0:37Intro. Russ Roberts: Today is June 17th, 2025, and my guest is economist, author, and podcaster Mike Munger of Duke University. He hosts...
Real Time Civilian Employment past Peak?
There’s a view that civilian employment (household series) peaks before nonfarm payroll employment (establishment series). If true, then time to worry.
Figure 1: Civilian...
The Age of Angst? Macro Implications
Source: NYT, July 6, 2025.
The OBBB alters the path of deficits relative to current law by a substantial amount, but not too much...
Manufacturing Employment, Hours Down | Econbrowser
So the sector overall looks like it’s in the doldrums:
Figure 1: Manufacturing production (blue), value added in 2017$ (red), employment (production and nonsupervisory)...
Trade Policy Uncertainty before July 9
Measured trade policy uncertainty, from Baker, Bloom and Davis, and Caldara, Iacoviello, Molligo, Prestipino, and Raffo:
Figure 1: EPU-trade category (blue, left scale), and Trade...
US Bond Markets: The Intimidators
There are not a lot of memorable quotations about bond markets, but one of my personal favorites is from James Carville, the chief...
Central Bank Gold Holdings | Econbrowser
A World Gold Council headline “Central bank gold buying picks up in May”.
Global central banks bought a net 20t in May, based on reported...
New Zealand: The Birthplace of Inflation Targeting
There is a widespread consensus that the policy goals for any central bank should be set through the legislative and political process. But...
