Mike Norman Economics

It's difficult to project precisely what the overall economic impact of this would be. Student debt is distributed all up and down the income ladder, and people at different income levels will spend or save the freed up money in varying proportions — it's the spending that will juice job growth and economic activity. But a Levy Institute paper from early 2018 — written by economists Scott Fullwiler, Stephanie Kelton, Catherine Ruetschlin, and Marshall Steinbaum — took a crack at figuring it...

Noah Smith assumes that the methodological question has been decided in favor of formalism.Lars P. Syll’s BlogNoah Smith’s new MMT critique — more nonsense on stiltsLars P. Syll | Professor, Malmo University

To think correctly about globalization one needs to think of it in historical context. This means seeing today’s globalization and its effects, positive and negative, as in many ways a mirror-replay of the first globalization that took place from the mid-19th century to the First World War.... That globalization was grounded in imperialism and colonialism.  WWI was the culmination of this, and the aftermath was its dénouement. That led to the rise of neo-imperialism and...

Is Wall Street getting the message that "capitalism" is not working in that prioritizing capital over the rest of the factors of production is resulting in not only economic issues but also social dysfunctionality and political polarization? This is also affecting US foreign policy adversely as the American leadership forces "capitalism" on the rest of the world regardless of other considerations, leading to a breakdown of globalization, a diminishment of world trade, and increasing...

For too long, citizens have been told that the government cannot afford to invest more in education, healthcare, infrastructure and other public services. At the same time, they have seen governments find money to pay for tax cuts, bank bailouts, military activities and other programmes that they likely deem to be less essential. MMT asks that instead of worrying about their balance sheets, governments start looking at ways to use the resources at their disposal in the most efficient way...

Keeper quote by William Vickrey. Lars P. Syll’s BlogVickrey on deficits and obfuscatory financial rectitudeLars P. Syll | Professor, Malmo University

Wednesday today and a short blog. I also have to travel a lot today. But some brief comments on an interesting article from French commentator Michel Lepetit – Nourrir le débat sur une annulation partielle (370 mds€) de la dette publique (April 15, 2019) – which means more or less “Promoting the debate on a partial cancellation (€370 billion) of public debt”. The article proposes that the Banque de France cancels its holding of French government debt (the €370 billion), which could also...

I called it way back at the end of last year. The Nov/Dec selloff, which caused so many to panic, was a fantastic buying opportunity.

There are four parts of this video.The Real News NetworkModern Monetary Theory - A Debate Between Randall Wray and Gerald Epstein PAUL JAY: Hi. Welcome to The Real News Network. I’m Paul Jay. With the development of this concept of a Green New Deal, and there’s much more attention being paid to it now that it’s being talked about in the halls of Congress, especially people like Alexandria Ocasio-Cortez, the question of how to pay for a Green New Deal has become to the fore. And part of...

The reason this is crucial is set out in the article below. It shows in a detailed way that it is investment, and not any other major factor in the economy, which controls China’s rate of economic growth – as it does in other major economies. In addition to its medium-term effect it was the fall in fixed investment which led to the economic slowdown in the second half of 2018, and the upturn which led to the good results in the first quarter of 2019 and in March in particular. Quantitative...