Mike Norman Economics

Marx, MMT, wage labor and surplus value.Bill Mitchell – billy blogMarxists getting all tied up on MMT Bill Mitchell | Professor in Economics and Director of the Centre of Full Employment and Equity (CofFEE), at University of Newcastle, NSW, AustraliaSee alsoThe Radford Free PressA Quick Note: Utopian or Real? Peter RadfordAlsolibcomThe Iron Fist Behind Exchange: The Problems With The Freed Market Ivysyn

As is expected, by far not all data on actual capabilities of S-500 is available, but the range of 600 kilometers against any aerodynamic targets means one not just tactical or even operational, but fully strategic ramification--it is precisely the range within which latest versions of E3 Sentry AWACS aircraft must enter to have any impact of the target acquisition and battle management. So, you get the idea, right? As you can see, my next book (while still not 100% completed, very close,...

If you were a Roman citizen around, say, 200 BC, you probably would have assumed Rome was going to last forever.At the time, Rome was the greatest republic in human history, and its institutions had proven resilient through invasions and all kinds of disasters. But the foundations of Rome started to weaken less than a century later, and by 27 BC the republic had collapsed entirely.The story of Rome’s fall is both complicated and relatively straightforward: The state became too big and...

[embedded content] Only 1:15.Chimp scrolling Instagram on iPhone proves it’s just like us

I had this letter in the FT this morning in response to a piece from Gavyn Davies, which continued the standard neoclassical economist's tradition of entirely missing the point about modern monetary theory…. Tax Research UKIn the FT this morning: modern monetary theory is the answer to the new normal Richard Murphy | Professor of Practice, International Politics, School of Social Sciences, City, University of London; Director, Corporate Accountability Network; Co-founder, Green New Deal...

AbstractThis paper focuses on the different development strategies of China and India, particularly regarding the role of manufacturing and services, for long-run productivity growth, external competitiveness and financial fragility. The findings appear to support the argument that productivity improvements in manufacturing drive productivity improvements in other sectors. They also substantiate previous findings that the Indian services-led growth trajectory has had limited success in...

I had t his call all the way back in December at the bottom. What's next for stocks, gold, the dollar, bonds, oil?

On Sunday, May 12, 2019, I will be presenting a workshop in London on – Local Government Funding: Challenging the Status Quo. Basically, I will be speaking about the way in which flawed understandings of the capacities of currency-issuing governments, combined with a vicious, ideological attack on working people from a government fully invested in neoliberal transfers to the elites, have ravaged the capacity of local government in the UK to deliver essential public services. See the Events...

Wow, Ben Norton packs quite a lot in half an hour from Russia-Gate through to WW3 and everything inbetween! The ruling elite own the media and don't care about us, or democracy, or a better society, says Ben Norton, and that they only care about their imperial control of the world.Ben Norton says the mainstream media are only interested in profits and the Russia-Gate nonsense was very profitable for them, plus their propaganda suited the establishment. Now Julian Assange is being portrayed...

Readers are probably aware that there is quite a lot of discussion of Modern Monetary Theory (MMT) and the potential for fiscal experimentation batting around at the moment. Others have weighed in on this already, and I have little to add. It is striking, however, that most of the push-back — where there is push-back — is not focused on trying to discredit the idea that we should engage in fiscal experimentation. Indeed, the notion that we should engage in fiscal experimentation seems to...