Mike Norman Economics

Dalio, however, agrees that MMT has weaknesses. He said, “The big risk of this approach arises from the risks of putting the power to create and allocate money, credit, and spending in the hands of politically elected policy makers.” He states that the system has been designed in a way that “highly skilled people” are in charge of decision making rather than politically motivated people. He added, “At the same time it is inevitable that we are headed in this direction.” This is both a...

A brief explanation of MMT by Richard Wolff, where he says the government does but need to borrow money when it wants to spend in the economy and can also print the money to pay off the national debt.  [embedded content] MMT or Modern Monetary Theory is becoming a point of contention in the Democratic Party,. But what is it and what does it mean? How does a government, or a political candidate use modern monetary theory, Can modern monetary theory help end the debt or the national deficit?...

Paul Craig Roberts says how the corporations drool over all the profits they will make from automation, but when there are no employees there will be no no wages so who will be able to buy anything?Think about it, say you own a small company and you completely automate it looking forward to the huge profits to be made as you don't have to pay any workers, and then ask yourself, who would worry about the long term future? Not many. Just hope for the best, I guess?At this point capitalism...

US SR182 | 2019-2020 | 116th CongressUS Congress Senate Resolution 182US State Legislature page for SR182SummarySponsorsTextsVotesResearchCommentsTrackStatusSpectrum: Partisan Bill (Republican 5-0)Status: Introduced on May 1 2019 - 25% progressionAction: 2019-05-01 - Referred to the Committee on Banking, Housing, and Urban Affairs. (text: CR S2576)Pending: Senate Banking, Housing, And Urban Affairs CommitteeSummaryA resolution recognizing the duty of the Senate to condemn Modern Monetary...

Digging into systems. Not as wonkish as it may sound. Real-World Economics Review BlogMathematics and the constructions and emergent outcomes of socioeconomic phenomena Ikonoclast Also at RWEREcological limits and hierarchical power from Blair Fix, Shimshon Bichler and Jonathan Nitzan

This is the breakthrough point for MMT. When Ray Dalio says something is going to happen, it is. So you probably want to read this in full.LinkedInIt’s Time to Look More Carefully at “Monetary Policy 3 (MP3)” and “Modern Monetary Theory (MMT)” Ray Dalio | Co-Chief Investment Officer and Co-Chairman, Bridgewater See also Capitalism is no longer working for most Americans, according to one hedge-fund billionaire, who says the expanding wealth gap dividing the haves and have-nots is...

More and more companies either choose not to invest in other countries or are prevented from doing so. Global foreign direct investment flows plunged by another 27% in 2018 — after having already plunged 16% in 2017 — to just $1.1 trillion, the equivalent of 1.3% of global GDP, the lowest ratio since 1999, according tonew data released by the OECD. It was the third consecutive annual plunge in global FDI flows, as more and more companies either choose not to invest in businesses or assets...

My job forecasts are always much more accurate than what other economists offer.

The two countries have set up a joint working group that would identify subjects of cooperation in the energy sector, including ways to rein in global oil prices. The group, set up a month ago, will be co-chaired by a joint secretary in the oil ministry and his Chinese counterpart.China and India, second- and third-largest oil consumers, respectively, have been meaning to form a joint front for more than a decade to assert their weight in the oil market, dominated by a producers’ cartel,...

With self-proclaimed Venezuelan Interim President Juan Guaido’s third coup having failed, it’s important to take measure of the global goals Washington has in trying to overthrow President Nicolas Maduro and the Bolivarian movement. One historian told Sputnik the US would gain much-needed leverage over rivals like China.... "If US imperialism can then get under its belt Venezuelan oil, and Iranian oil, and have the Permian Basin in Texas, it's controlling the lifeblood of the Chinese...