Mike Norman Economics

Nicholas Kaldor quote. The Case for Concerted ActionMainstream Economics Compared To Keynesian TimesV. Ramanan

In a few weeks I am off to Britain again to participate in a series of events. Two of these events will be in Scotland where we (Warren and I) will discuss, as outsiders, issues pertaining to the monetary arrangements that might accompany a move to Scottish independence. It is a controversial issue in itself, but, unfortunately, is also intertwined with the vexed issue of EU membership. And the complication then becomes that progressives, who might otherwise be attracted to the Modern...

The last 2 weeks has seen a very sharp deceleration of loan growth. Is the economy slowing?

Relentless reports that the New Silk Roads, or the Belt and Road Initiative (BRI), are a perfidious neo-imperial debt trap set up by Yellow Peril 2.0 are vastly exaggerated.With less than one week to go before the next BRI forum in Beijing, a quick overview of what’s been happening in Europe and Southwest Asia may be quite enlightening.... The BRI is set to bring the lagging economies (and societies) in Asia into the 21st century in a way similar to the dynamic growth of China since the...

Backgrounder on the economic data charting service provided by the Fed — making economic data free for all.On the Economy — FRBSLMeet the People behind FRED

Two proposals from Richard Murphy.Tax Research UKThe argument for fundamental reform of accounting as well as auditing goes onTax to Save The Environment: a land value tax with a woodland twistRichard Murphy, Professor of Practice in International Political Economy at City, University of London, and chartered accountant.

Keeper quote from Joseph Schumpeter. He nailed endogenous money as "credit money" and observed correctly how "money" gets created by banks' extending credit — "they create deposits in their act of lending." This effect is now amplified through non-bank and quasi-bank financial institutions. The contemporary financialized economy runs largely on privately created credit. This has an even greater effect than Schumpeter likely anticipated. Economists' ignoring this unduly limit the scope of...

This is interesting: How we become entrenched in our opinions, and if we lose in a debate about politics with someone we will experience extremely stress, then do more research, scan the internet, talk to friends who hold our opinion, and then come back with our position strengthened. We never lose our arguments for long. But is America becoming more divided and could it result in civil war? The Backfire Effect For a long time now, I have realized that so-called incontrovertible evidence...

Well, talk about entrenched positions (Credit Writedowns post below).Here, Glenn Greenwald knocks out David Cay Johnstone who insists that Trump is guilty.  Johnstone says that just because there is no evidence it doesn't mean Trump didn't collude with the Russians. Glenn Greenwald completely calls him out, but David Cay Johnstone sticks to his guns.Glenn Greenwald  agrees with David Cay Johnson that the Russians wanted Donald Trump to win, just as in the past the Americans wanted Yeltsin to...

Mark Curtis - Prince Khaled, the new Saudi ambassador to the UK, is the son of the former Saudi intelligence chief, is a graduate of Sandhurst and Oxford and is married to the niece of the 12th Duke of Northumberland. The system is working beautifully. Prince Khaled has also served his country as an adviser to the Saudi ambassador to the US for three years Prince Khaled bin Bandar bin Sultan, the Saudi ambassador to the UK, has thanked King Salman and Crown Prince Mohammed bin Salman for...