Mike Norman Economics

Summary of the threat posed by climate change with a clock on it to some extent.RedditFound this, thought it was pretty good for people who don't realise what's going on Posted by u/sonofadistance ht Yves Smith at Naked CapitalismSee alsoMagpie's Asymmetric WarfareThis is the Situation. MagpiealsoForbesWhy Renewables Can’t Power Modern Civilization: They Were Never Meant To Michael Shellenberger

Tariffs are paid by importers, not exporters. Doh.ReutersExplainer: Who pays Trump's tariffs - China and other exporters or U.S. customers?

The eagle has conveniently forgotten that the original, Ancient Silk Road linked the dragon with the Roman empire for centuries – with no interlopers outside of Eurasia, muses Pepe Escobar. Consortium NewsPEPE ESCOBAR: The Eagle, the Bear and the Dragon

This is the second and final part of my series on Scotland as I prepare for a visit to Edinburgh and Glasgow this week. You can see the details from my – Events Page – and I urge interested readers to support the events that are run by activists. I will be talking about issues pertaining to the monetary arrangements that might accompany a move to Scottish independence. I have noted in the past that this is a controversial issue in itself that is also made more divisive because it has become...

On the Indian economy, with a reference to MMT thrown in. If Ramanan sees this, perhaps he will comment.Financial Express (India)Ability to grow amid global declining trend a hallmark of IndiaSushim Banerjee

The media, financial community and zombies have this wrong. Tariffs and trade "wars" are already creating a bullish outcome.

The BRI forum’s key takeaway was Beijing’s ability to execute a masterful geopolitical Sun Tzu maneuver – realizing that for the scheme to proceed more smoothly it would have to address key questions about debt sustainability, anti-corruption, consultative processes, plus emphasize “bottom-up” negotiations. Scores of nations across the Global South, as well as some aspiring to developed world status, have adopted the Chinese investment and development model over financing from Washington...

US media not even pretending anymore. Prepping the American public for military intervention? RT Fake news alert: CNN says Venezuelan opposition leader Juan Guaido 'won election in January'

Changes in expenditure rather than changes in the money stock are causal in economic performance. Changes in money stock do not necessarily result in changes in expenditure. Velocity of money depends on liquidity preference. If the money stock increases while the population increasingly desires to save rather than spend, no change in economic performance will follow. A chief point of the General Theory is that spending as "effective demand" drives an economy. As a consequence fiscal...

What I hope to achieve is to set out a framework based on Modern Monetary Theory (MMT) principles to allow the protagonists to make their own decisions, free of the neoliberal sort of monetary myths that I think have dominated the independence debate to date. I am always cautious discussing the pro and con of situations where I have no direct material stake and a less than full understanding of specific cultural and historical influences that are at work. But the Scottish question is...