Mike Norman Economics

No gun loving hillbillies here!The Nordic perspectiveOpenness Trust in each other New ways of thinking Sustainable management Compassion and tolerance [embedded content] Curious about the Nordic perspective? Learn more about how the Nordic co-operation support what the Nordic countries have in common by finding pragmatic and common solutions which develop the Nordic model. The Nordic perspective is more than beautiful nature, good economy, equality, innovation, literature, films,...

Even though I said I won't be posting links to nonsense, some of the nonsense is too funny not to share. To make it worse, he is talking his own book. Coin RivetHow does fiat currency work? Pedro Febrero

Its Wednesday and some snippets only today. I was reviewing some data on public investment in the European Union the other day and up popped an article in Barrons that covered the same issue. The data reveals the stark failure of the Eurozone and the European Union, in general. The consequences of the European Union’s ideological obsession for rules over reality is now clearly undermining the future prosperity of the Member States. While the fiscal austerity has created elevated and...

Radical uncertainty is feature of a complex adaptive system a chief characteristic of which is emergence. Emergence is at the heart of evolution theory. Emergence in this context means that there is no way to predict what will emerge from a complex adaptive system based on investigation of the past and present state of the system. This implies that surprise is a characteristic of such systems. This also implies that complex adaptive systems are like open systems rather than closed,...

The Financial Instability Hypothesis was associated with the economist Hyman Minsky, although it could be viewed as Minsky’s interpretation of Keynes. One summary of the concept is that stability is destabilising: economic stability leads to changes in behavioural changes that destabilise the economy…. Bond Economics Primer: Financial Instability Hypothesis (Part I)Brian Romanchuk

While I tried to keep up with the barrage of criticism when MMT went viral recently, after a while I ceased posting links to criticism of MMT unless it added something to the debate. Most of the things I see, and there's a ton of it spewing out, reiterates straw man arguments or is just uninformed nonsense. Not worth wasting time on.Thoughtful critics of other economists are worthwhile considering, however. No one has the ocean in their bucket and we should not think that MMT economists are...

A bevy of lawmakers in Congress alarmed by soaring deficits are calling yet again for a constitutional amendment to balance the federal budget — but this time it’s Democrats. The so-called Blue Dog Coalition of moderate Democrats on Tuesday endorsed an amendment that would require Washington to balance the budget except in case of war or recession.... Are they for the return of the gold standard, too?Market WatchAnd now for something different: Democrats call for balanced-budget...

April is an important month. Tax payments. Fiscal flows. The banks. Major impact on the markets.

A chilling documentary about the Right that backed Trump. About how billionaires fund climate change denial, and as they are losing that argument, how they are funding think tanks to con people into believing that increased carbon is good for the planet.These billionaires also behind the crazy Agenda 21 movement which says that green liberals at the United Nations intend to de-populate the world. Their right wing propaganda is to get people to hate the United Nations, or any force which...

Far from being synonymous with stability, the gold standard itself was the principal threat to financial stability and economic prosperity between the wars.” Barry Eichengreen, Golden Fetters. This article is written by two bankers, but anywhere you look, the problems of using the gold standard are described the same. One thing, the money is limited to the amount of gold a country has, not the resources or the know how of the people. That would be a waste.  The extraordinary monetary...