Mike Norman Economics

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...

Lars Syll schools Douglas Carr (The Hill op-ed) on austerity and the Swedish economy. Lars P. Syll’s BlogSweden as a case of MMTLars P. Syll | Professor, Malmo University

Gold buying like this functions as ‘off balance sheet deficit spending’. It’s off balance sheet as the payments by the CB don’t count as fiscal expenditures as they are accounted for as CB asset. And it’s functionally state deficit spending as the purchases add income in the form of net financial assets to the non government sectors: China’s on a bullion-buying spree. The world’s second-largest economy expanded its gold reserves for the fourth straight month, adding to optimism that...

Hatzius sees bigger risks in private debt than public deficit BofA, Standard Chartered say MMT only helps in sharp downturns BloombergWall Street Economists Wade Into the MMT Debate in a Big WayKatia Dmitrieva

In Part 1, I introduced the discussion about the use of industry policies in the Keynesian period after World War 2. Most nations adopted a mixed planning-market based system for allocating productive resources and the state was always central in setting out planning parameters, direct ownership and employment, and regulation. It was a system that researchers described as being “highly successful”. Two approaches to industrialisation were taken: (a) export-oriented (for example, South...

The cost of giving up currency sovereignty. Even Germany isn't doing well under the euro now. Lars P. Syll’s BlogMMT perspectives on the euroLars P. Syll | Professor, Malmo University

I was hoping that Pavlina would bury Noah's criticism of her paper, and she greatly exceeded my expectations.MUST-READ. This is much more than a smackdown. Lotsa links, too.New Economic PerspectivesMMT, Models, MultidisciplinarityPavlina Tcherneva | Assistant Professor of Economics at Bard College, Research Scholar at The Levy Economics Institute, and Senior Research Associate at the Center for Full Employment and Price Stability

Short, and positive toward MMT.Wall Street blessings have helped. AxiosThe upside of printing money Felix Salmon