Mike Norman Economics

An absolutely shocking report by Allan Nairn about U.S involvement with the death squads that operated in Latin America during the 1980's under the Reagan administration.As most of the population in Latin American countries were for the liberation the right-wing knew they were in a minority. Knowing their mercenary armies were greatly outnumbered they decided to use the most brutal and and terrifying tactics to frighten the population into submission with shear unbelievable psychopathic...

On the other hand, a number of central banks have taken the dangerous approach of simply tailoring their message based on their audience: when speaking to technical experts, say one thing, and when speaking to the public, say another. The janus-faced SNB is a case in point. This rhetorical duplicity is important as it allows central banks to both assuage popular concerns over the stability of money, by fostering the illusion that they maintain control over price stability and monetary...

Here’s the good news: Anything that is technically feasible is financially affordable. And it won’t be a drag on the economy ― unlike the climate crisis itself, which will cause tens of billions of dollars worth of damage to American homes, communities and infrastructure each year. A Green New Deal will actually help the economy by stimulating productivity, job growth and consumer spending, as government spending has often done. (You don’t have to go back to the original New Deal for...

Remember back in early 2009, when the then head of the European Central Bank Jean-Claude Trichet (boasted that the “euro … is a success … it helps to secure prosperity in participating states”. He was still making these claims in October 2018. At an event in honour of he and former German finance minister Theodor Waigel, organised by the Banque de France, Trichet said that “the euro is a historic success … in terms of credibility, resilience, adaptability, popular support and real growth...

Richard Murphy challenges Simon Wren-Lewis to put up or shut up. So my question is, I suppose, inevitable. What I would like Simon to do is show how he and Jonathan Portes have written, as he claims, a rule that delivers a real-world political economic solution (because that is what Labour's rule is, because it is not an academic paper) that is the same as modern monetary theory. And I want him to show this even though: i) The rule he has written works subject to financial constraints, and...

Confused.  Michael Roberts needs to read more of the MMT primary literature if he wants to critique MMT in any detail. Nevertheless, MMT starts with the conviction that it is the state (not capitalist commodity relations) that establishes the value of money. Not quite.MMT starts with the observation of Warren Mosler that under the current monetary system, a contemporary sovereign currency is a public monopoly, with the currency issuing government acting as the people's representative —...

Uh-oh!They say it will be used for the benefit of the Venezuelan people, but Trump, Bolton and the rest of the U.S. elite will probably have other ideas. The Venezuelan government has confirmed the existence of “significant” coltan deposits south of the Orinoco River, as well as proven gold reserves valued at $100 billion. Basic Industries and Mining Minister Rodolfo Sanz told a press conference that only seven countries in the world have reserves of coltan – a valuable black mineral that...

No wonder Caracas is supported by China, Russia and Iran. They are the real hardcore troika – not psycho-killer John Bolton’s cartoonish “troika of tyranny” – fighting against the Trump administration’s energy dominance strategy, which consists essentially in aiming at the total lock down of oil trading in petrodollars, forever.... In the end, this is all about economic war.... Strategic Culture FoundationVenezuela: Let"s Cut to the Chase Pepe Escobar

Libertarians are for the bosses party, where the few can subjugate the many. Libertarians say no one is forcing you to work for someone, and so you're free to move on, but what is most bosses are the same because the market gives them too much power. 'If you don't like it go somewhere else', the bosses say, knowing they have you over a barrel.So, start your own business, they say, but two out of three businesses fail, and how would most people raise the money? Remortgage your house, but not...